Special Economic Zones  Act, 2005

THE GAZETTE OF INDIA EXTRAORDINARY

PART II - SECTION I

PUBLISHED BY AUTHORITY NO. 31]

NEW DELHI, THURSDAY, JUNE 23, 2005

MINISTRY OF LAW AND JUSTICE

(Legislative Department)

New Delhi, the 23rd  June, 2005/Asadha 2, 1927 (Saka)

The following Act of Parliament received the assent of the President on the 23rd  June, 2005, and it hereby published for general information: -

THE SPECIAL ECONOMIC ZONES ACT, 2005 No. 28 OF 2005 [23rd  June, 2005]An  Act  to  provide for  the  establishment,  development  and  management  of  the Special Economic  Zones  for  the  promotion of  exports  and  for  matters  connected  therewith  or incidental thereto.

Be it enacted by Parliament in the Fifty-sixth Year of the Republic of India as follows:-

Chapter I - Preliminary

Section 1 - Short title, extent and commencement

 

Section 2 - Definitions

Chapter II - Establishment of Special Economic Zone

Section 3 - Procedure for making proposal to establish Special Economic Zone

 

Section 4 - Establishment of Special Economic Zone and approval and authorisation to operate to, Developer

 

Section 5 - Guidelines for notifying special Economic Zone

 

Section 6 - Processing and non-processing areas

 

Section 7 - Exemption from taxes, duties or cess

Chapter III - Constitution of Board of approval

Section 8 - Constitution of Board of Approval

 

Section 9 - Duties, powers and functions of Board

 

Section 10 - Suspension of letter of approval and transfer of Special Economic Zone in certain cases

Chapter IV - Development Commissioner

Section 11 - Development Commissioner

 

Section 12 - Functions of Development Commissioner

Chapter V - Single Window Clearance

Section 13 - Constitution of Approval Committee

 

Section 14 - Powers and functions of Approval Committee

 

Section 15 - Setting up of Unit

 

Section 16 - Cancellation of letter of approval to entrepreneur

 

Section 17 - Setting up and operation of Offshore Banking Unit

 

Section 18 - Setting up of International Financial Services Centre

 

Section 19 - Single application form, return, etc.

 

Section 20 - Agency to inspect

 

Section 21 - Single enforcement officer or agency for notified offences

 

Section 22 - Investigation, inspection and search or seizure

 

Section 23 - Designated Courts to try suits and notified offences

 

Section 24 - Appeal to High Court

 

Section 25 - Offences by companies

Chapter VI - Special Fiscal Provisions for Special Economic Zones

Section 26 - Exemptions, drawbacks and concessions to every Developer and entrepreneur

 

Section 27 - Provisions of Income-tax Act, 1961 to apply with certain modification in relation to Developers and entrepreneurs

 

Section 28 - Duration of goods or services in Special Economic Zones

 

Section 29 - Transfer of ownership and removal of goods

 

Section 30 - Domestic clearance by Units

Chapter VII - Special Economic Zone Authority

Section 31 - Constitution of Authority

 

Section 32 - Officers of Authority and other staff

 

Section 33 - Special provision for transfer of officers or other employees to Authority

 

Section 34 - Functions of Authority

 

Section 35 - Grants and loans by Central Government

 

Section 36 - Constitution of Fund and its application

 

Section 37 - Accounts and audit

 

Section 38 - Directions by Central Government

 

Section 39 - Returns and reports

 

Section 40 - Power to supersede Authority

 

Section 41 - Members, officers and other employees of Authority to be public servants

Chapter VIII - Miscellaneous

Section 42 - Reference of dispute

 

Section 43 - Limitation

 

Section 44 - Applicability of provisions of this Act to existing Special Economic Zones

 

Section 45 - Person to whom a communication may be sent under this Act

 

Section 46 - Identity Card

 

Section 47 - Authorities responsible for administration

 

Section 48 - Protection of action taken in good faith

 

Section 49 - Power to modify provisions of this Act or other enactments in relation to Special Economic Zones

 

Section 50 - Power of State Government to grant exemption

 

Section 51 - Act to have overriding effect

 

Section 52 - Certain provisions not to apply

 

Section 53 - Special Economic Zones to be ports, airports, inland container depots, land stations, etc. in certain cases

 

Section 54 - Amendment to First Schedule

 

Section 55 - Power to make rules

 

Section 56 - Power to remove difficulties

 

Section 57 - Amendment of certain enactments

 

Section 58 - Savings

First Schedule

Second Schedule

Third Schedule