The Micro, Small and Medium Enterprises Development Act, 2006

Contents
Sections	Particulars
Chapter I	Preliminary
1	Short title and commencement
2	Definitions
Chapter II	National Board for Micro, Small and Medium Enterprises
3	Establishment of Board
4	Removal of member from Board
5	Functions of Board
6	Powers and functions of member-secretary of board
Chapter III	Classification of Enterprises, Advisory Committee and Memorandum of Micro, Small and Medium Enterprises
7	Classification of enterprises
8	Memorandum of micro, small and medium enterprises
Chapter III	Measures For Promotion, Development and Enhancement of Competitiveness of Micro, Small and Medium Enterprises
9	Measures for promotion and development
10	Credit facilities
11	Procurement preference policy
12	Funds
13	Grants by Central Government
14	Administration and utilisation of Fund or Funds
Chapter IV	Delayed Payments to Micro and Small Enterprises
15	Liability of buyer to make payment
16	Date from which and rate at which interest is payable
17	Recovery of amount due
18	Reference to micro and small enterprises facilitation council
19	Application for setting aside decree, award or order
20	Establishment of micro and small enterprises facilitation council
21	Composition of micro and small enterprises facilitation council
22	Requirement to specify unpaid amount with interest in the annual statement of accounts
23	Interest not to be allowed as deduction from income
24	Overriding effect
25	Scheme for closure of business of micro, small and medium enterprises
Chapter VI	Miscellaneous
26	Appointment of officers and other employees
27	Penalty for contravention of section 8 or section 22 or section 26
28	Jurisdiction of courts
29	Jurisdiction of courts
30	Power to make rules by State Government
31	Power to remove difficulties
32	Repeal of Act

An Act to provide for facilitating the promotion and development and enhancing the competitiveness of micro, small and medium enterprises and for matters connected therewith or incidental thereto.

Whereas a declaration as to expediency of control of certain industries by the Union was made under section 2 of the Industries (Development and Regulation) Act, 1951; And whereas it is expedient to provide for facilitating the promotion and development and enhancing the competitiveness of micro, small and medium enterprises and for matters connected therewith or incidental thereto; Be it enacted by Parliament in the Fifty-seventh Year of the Republic of India as follows: