This Act, consisting of 32 sections divided into six Chapters, provides for facilitating the promotion and development and enhancing the competitiveness of micro, small and medium enterprises. In addition, the Central Government may, by notification, appoint a Board to be known as the National Board for Micro, Small and Medium Enterprises. The Board shall, subject to the general directions of the Central Government, perform all or any of the following functions, namely: a) examine the factors affecting the promotion and development of micro, small and medium enterprises and review the policies and programmes of the Central Government in regard to facilitating the promotion and development and enhancing the competitiveness of such enterprises and the impact thereof on such enterprises; b) make recommendations on matters referred to in clause (a) or on any other matter referred to it by the Central Government which, in the opinion of that Government, is necessary or expedient for facilitating the promotion and development and enhancing the competitiveness of the micro, small and medium enterprises; and c) advise the Central Government on the use of the Funds constituted under section 12. The Act is divided as follows: Preliminary (Chap. I); National Board for Micro, Small and Medium Enterprises (Chap. II); Classification of Enterprises, Advisory Committee and Memorandum of Micro, Small and Medium Enterprises (Chap. III); Measures for Promotion, Development and Enhancement of Competitiveness of Micro, Small and Medium Enterprises (Chap. IV); Delayed Payments to Micro and Small Enterprises (Chap. VI); and Miscellaneous (Chap. VI).
India · 2006-06-16