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Corporate Laws Central Ministry of Micro, Small and Medium Enterprises Micro, Small and Medium Enterprises Development Act, 2006

Micro, Small and Medium Enterprises (Amendment) Rules, 2022

19-Jan-2022 | F.No.2/3(1)/2021-P & G/Policy

Central Government has notified Micro, Small, and Medium Enterprises (Amendment) Rules, 2022. In the Micro, Small and Medium Enterprises Fund Rules, 2016, after sub-rule (4) of rule 6, the following sub-rule has been inserted:- (5) The criteria based on which sums may be released under sub-section(3) of section 14 of the Act are as under, namely:- (a) the beneficiary of the fund shall be a micro or small or medium enterprise and shall file the memorandum under sub-section (1) of section 8 of the Act; (b) the fund shall be mandatorily utilized for the project or scheme or activity for which it is approved by the Governing Council; (c) the fund shall be disbursed as per the guidelines notified for that particular project or scheme or activity as referred to in sub-rule (2); and (d) the beneficiary of this fund cannot claim benefits from any other Scheme or program of Central Government or any State Government or Union territory Administration for that project or scheme or activity.

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