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PARLIAMENT BILLS

THE SPECIAL ECONOMIC ZONE (AMENDMENT) BILL, 2019


KEY HIGHLIGHTS OF THE BILL

  • The Special Economic Zones (Amendment) Bill, 2019 was introduced in Lok Sabha on June 24, 2019. 
  • It amends the Special Economic Zones Act, 2005 and replaces an Ordinance which was previously 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, a person is defined as '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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