Bill Summary

The Special Economic Zones (Amendment) Bill, 2019

• The Special Economic Zones (Amendment) Bill, 2019 was introduced in Lok Sabha by Mr. Piyush Goyal, Minister of Commerce and Industry on June 24, 2019.  It amends the Special Economic Zones Act, 2005 and replaces an Ordinance that was promulgated on March 2, 2019.  The Act 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 individual, a Hindu undivided family, a company, a co-operative society, a firm, or an association of persons.  The Bill adds two more categories to this definition by including a trust, or any other entity which may be notified by the central government.

 

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