Cabinet approves Promulgation of an Ordinance for Amendment to the Special Economic Zones Act, 2005

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....abinet approves Promulgation of an Ordinance for Amendment to the Special Economic Zones Act, 2005 <br>News and Press Release<br>Dated:- 1-3-2019<br><BR>The Union Cabinet, chaired by the Prime Ministe....

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....r Narendra Modi has approved promulgation of an Ordinance to amend the definition of &quot;person&quot;, as defined in sub-section (v) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005)....

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.... to include a trust, to enable the setting up of a unit in a Special Economic Zone by a trust, as also to provide flexibility to the Central Government to include in this definition of a person, any e....

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....ntity that the Central Government may notify from time to time. Impact: The present provision of the SEZs Act, 2005 do not permit &#39;trusts&#39; to set up units in SEZs. The amendment will enable ....

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....a trust to be considered for grant of permission to set up a unit in SEZs. The amendment will also provide flexibility to the Central Government to include in this definition of a person, any entity t....

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....hat the Central Government may notify from time to time. This will facilitate investments in Special Economic Zones.<BR> News - Press release - PIB....