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Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Complete Act

Title: Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993

State: Central

Year: 1993

Preamble1 - INTEREST ON DELAYED PAYMENTS TO SMALL SCALE AND ANCILLARY INDUSTRIAL UNDERTAKINGS ACT, 1993 Section1 - Short title, extent and commencement Section2 - Definitions Section3 - Liability of buyer to make payment Section4 - Date from which and rate at which interest is payable Section5 - Liability of buyer to pay compound interest Section6 - Recovery of amount due Section7 - Appeal Section7A - Establishment of Industry Facilitation Council Section7B - Composition of Industry Facilitation Council Section7C - Laying of rules before State Legislature Section8 - Requirement to specify unpaid amount with interest in the annual statement of accounts Section9 - Interest not to be allowed as deduction from income Section10 - Over-riding effect Section11 - Repeal and saving

Cine Workers Welfare Fund Act, 1981 Complete Act

State: Central

Year: 1981

.....anything necessary for the proper discharge of his duties; and (c) exercise such other powers as may be prescribed, SECTION 09: ANNUAL REPORT OF ACTIVITIES FINANCED UNDER THIS ACT The Central Government shall, as soon as may be, after the end of each financial year, cause to be published in the Official Gazette, a report giving an account of the activities financed under this Act during the financial year, together with a statement of accounts. SECTION 10: POWER TO CALL FOR INFORMATION The Central Government may require a producer to furnish, for the purposes of this Act, such satisfied and other information in such form and within such period as may be prescribed. SECTION 11: POWER TO MAKE RULES 6 (1) The Central Government may, by notification in the Official Gazette, make rules for carrying out the provisions of this Act. (2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for- (a) the manner in which the Fund may be applied for the measurers and facilities specified in sub-section (1) of section 4-; (b) the conditions governing the grant of any loan under clause (b) of sub-section (1) of section 4-; (c) the.....

Beedi Workers Welfare Fund Act, 1976 Complete Act

State: Central

Year: 1976

.....to such State or part thereof subject to such exemptions and modifications as may be specified in the notification. SECTION 10: ANNUAL REPORT OF ACTIVITIES FINANCED UNDER THE ACT The Central Government shall, as soon as may be, after the end of each financial year, cause to be published in the official Gazette, a report giving an account of its activities financed under this Act during the previous financial year together with a statement of accounts. SECTION 11: POWER TO CALL FOR INFORMATION The Central Government may require a State Government or a local authority 5[or the agency] or an employer to furnish, for the purposes of this Act, such statistical and other information in such form and within such period as may be prescribed. SECTION 12: POWER TO MAKE RULES (1) The Central Government may, by notification in the official Gazette, and subject to the condition of previous publication, makes rules for carrying out the provisions of this Act. (2) In particular and without prejudice to the generality of the foregoing power, such rules may be provided for- (a) the manner in which the Fund may be applied for the measures and facilities specified in subsection (1).....

Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Preamble 1

Title: Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993

State: Central

Year: 1993

THE INTEREST ON DELAYED PAYMENTS TO SMALL SCALE AND ANCILLARY INDUSTRIAL UNDERTAKINGS ACT, 1993 [Act, No. 32 of 1993] [2nd April, 1993] PREAMBLE An Act to provide for and regulate the payment of interest on delayed Payments to small scale and ancillary industrial undertakings and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Forty-fourth Year of the Republic of India as follows:--

Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Complete Act

State: Central

Year: 1993

.....Small Industries Development Corporation of a State or a Union territory, by whatever name called, being a company registered under the Companies Act, 1956 (I of 1956) ] SECTION 03: LIABILITY OF BUYER TO MAKE PAYMENT Where any supplier supplies any goods or renders any services to any buyer, the buyer shall make payment therefor on or before the date agreed upon between him and the supplier in writing or, where there is no agreement in this behalf, before the appointed day.2["Provided that in no case the period agreed upon between the supplier and the buyer in writing shall exceed one hundred and twenty days from the day of acceptance or the day of deemed acceptance."] SECTION 04: DATE FROM WHICH AND RATE AT WHICH INTEREST IS PAYABLE 3Where any buyer fails to make payment of the amount to the supplier, as required under Section 3, the buyer shall, notwithstanding anything contained in any agreement between the buyer and the supplier or in any law for the time being in force, be liable to pay interest to the supplier on that amount from the appointed day or, as the case may be, from the date immediately following the date agreed upon, at one-and-a-half time of Prime Lending.....

Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Section 1

Title: Short Title, Extent and Commencement

State: Central

Year: 1993

(1) This Act may be called the Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993. (2) It extends to the whole of India, except the State of Jammu and Kashmir. (3) It shall be deemed to have come into force on the 23rd day of September, 1992.

Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Section 2

Title: Definitions

State: Central

Year: 1993

..... In this Act, unless the context otherwise requires,-- (a) "ancillary industrial undertaking" has the meaning assigned to it by clause (aa) of section 3 of the Industries (Development and Regulation) Act, 1951 (65 of 1951); (b) "appointed day" means the day following immediately after the expiry of the period of thirty days from the day of acceptance or the day of deemed acceptance of any goods or any services by a buyer from a supplier; Explanation.--For the purposes of this clause,-- (i) "the day of acceptance" means,-- (a) the day of the actual delivery of goods or the rendering of services; or (b) where any objection is made in writing by the buyer regarding acceptance of goods or services within thirty days from the day of the delivery of goods or the rendering of services, the day on which such objection is removed by the supplier; (ii) "the day of deemed acceptance" means, where no objection is made in writing by the buyer regarding acceptance of goods or services within thirty days from the day of the delivery of goods or the rendering of services, the day of the actual delivery of goods or the rendering of services; (c) "buyer" means whoever buys any.....

Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Section 11

Title: Repeal and Saving

State: Central

Year: 1993

(1) The Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Ordinance, 1993 (Ord. 4 of 1993) is hereby repealed. (2) Notwithstanding such repeal, anything done 01 any action taken under the Ordinance so repealed shall be deemed to have been done or taken under the corresponding provisions of this Act.

Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Section 7B

Title: Composition of Industry Facilitation Council

State: Central

Year: 1993

1[7B. Composition of Industry Facilitation Council (1) The Industry Facilitation Council shall consist of one or more members to be appointed from amongst the following categories:-- (i) Director of Industries by whatever name called or any other officer not below the rank of such Director, of the Stale Government; (ii) representatives of banks and financial institutions; (iii) office bearers or representatives of State Induslry Associations; and (iv) persons having special knowledge in the field of industry, Finance, Law, Trade and Commerce. (2) The person appointed under clause (i) of sub-section (1) shall be the Chairperson of the Industry Faeilitation Council. (3) The composition of the Industry Facilitation Council, the manner of filling vacancies among, and the procedure to be followed in the discharge of their functions by, the members shall be such as may be prescribed by rules by the State Government. ______________________ 1. Inserted by Act 23 of 1998, sec. 6 (w.e.f. 10-8-1998).

Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Section 10

Title: Over-riding Effect

State: Central

Year: 1993

The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force.