The Special Economic Zones Act, 2005

Act Number:28
Court:Ministry of Commerce and Industry
Record Number:200528
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THE SPECIAL ECONOMIC ZONES ACT, 2005
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ARRANGEMENT OF SECTIONS
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CHAPTER I
PRELIMINARY
SECTIONS
1. Short title, extent and commencement.
2. Definitions.
CHAPTER II
ESTABLISHMENT OF SPECIAL ECONOMIC ZONE
3. Procedure for making proposal to establish Special Economic Zone.
4. Establishment of Special Economic Zone and approval and authorisation to operate it to,
Developer.
5. Guidelines for notifying Special Economic Zone.
6. Processing and non-processing areas.
7. Exemption from taxes, duties or cess.
CHAPTER III
CONSTITUTION OF BOARD OF APPROVAL
8. Constitution of Board of Approval.
9. Duties, Powers and functions of Board.
10. Suspension of letter of approval and transfer of Special Economic Zone in certain cases.
CHAPTER IV
DEVELOPMENT COMMISSIONER
11. Development Commissioner.
12. Functions of Development Commissioner.
CHAPTER V
SINGLE WINDOW CLEARANCE
13. Constitution of Approval Committee.
14. Powers and functions of Approval Committee.
15. Setting up of Unit.
16. Cancellation of letter of approval to entrepreneur.
17. Setting up and operation of Offshore Banking Unit.
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SECTIONS
18. Setting up of International Financial Services Centre.
19. Single application form, return, etc.
20. Agency to inspect.
21. Single enforcement officer or agency for notified offences.
22. Investigation, inspection, search or seizure.
23. Designated Courts to try suits and notified offences.
24. Appeal to High Court.
25. Offences by companies.
CHAPTE VI
SPECIAL FISCAL PROVISIONS FOR SPECIAL ECONOMIC ZONES
26. Exemptions, drawbacks and concessions to every Developer and entrepreneur.
27. Provisions of Income-tax Act, 1961 to apply with certain modification in relation to Developers
and entrepreneurs.
28. Duration of goods or services in Special Economic Zones.
29. Transfer of ownership and removal of goods.
30. Domestic clearance by Units.
CHAPTER VII
SPECIAL ECONOMIC ZONE AUTHORITY
31. Constitution of Authority.
32. Officers of Authority and other staff.
33. Special provision for transfer of officers or other employees to Authority.
34. Functions of Authority.
35. Grants and loans by Central Government.
36. Constitution of Fund and its application.
37. Accounts and audit.
38. Directions by Central Government.
39. Returns and reports.
40. Power to supersede Authority.
41. Members, officers and other employees of Authority to be public servants.
CHAPTER VIII
MISCELLANEOUS
42. Reference of dispute.
43. Limitation.
44. Applicability of provisions of this Act to existing Special Economic Zones.
45. Person to whom a communication may be sent under this Act.
46. Identity Card.
47. Authorities responsible for administration.
48. Protection of action taken in good faith.
49. Power to modify provisions of this Act or other enactments in relation to Special Economic
Zones.
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SECTIONS
50. Power of State Government to grant exemption.
51. Act to have overriding effect.
52. Certain provisions not to apply.
53. Special Economic Zones to be ports, airports, inland container depots, land stations, etc., in
certain cases.
54. Amendment to First Schedule.
55. Power to make rules.
56. Power to remove difficulties.
57. Amendment of certain enactments.
58. Savings.
THE FIRST SCHEDULE.
THE SECOND SCHEDULE.
THE THIRD SCHEDULE.

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