The Central Government notifies Micro, Small and Medium Enterprises (Amendment) Rules, 2022 to amend the Micro, Small and Medium Enterprises Fund Rules, 2016.
Key Points:
- In the Micro, Small and Medium Enterprises Fund Rules, 2016, the following sub-rule shall be inserted in Rule 6 relating to Approval and release of money from Fund:
“(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 utilised 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) beneficiary of this fund cannot claim benefits from any other Scheme or programme of Central Government or any State Government or Union territory Administration for that project or scheme or activity.