Modi 2.0 approves SEZ (Amendment) Bill 2019
The Bill to replace the previous Ordinance, 2019 (12 of 2019) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved to introduce a Bill, namely, the Special Economic Zones (Amendment) Bill, 2019 that is the Bill to replace the Special Economic Zones (Amendment) Ordinance, 2019 (12 of 2019). The Bill will be introduced in ensuing session of the Parliament. After the amendment of sub-section (v) of section 2 of the Special Economic Zones Act, 2005, a trust or any entity notified by the Central Government will be eligible to be considered for grant of permission to set up a unit in Special Economic Zones. The Special Economic Zones (Amendment) Ordinance, 2019 was promulgated on March 2, 2019. It amends the Special Economic Zones Act, 2005 which provides for the establishment, development and management of Special Economic Zones for the promotion of exports. Definition of person: Under the Act, the definition of a person includes an ...