Punjab Right to Business Act, 2020

Jan 28, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The State Government of Punjab on January 16, 2020, has published the Punjab Right to Business Act, 2020 for ease of doing business for the newly incorporated Micro, Small and Medium Enterprises through an enabling eco-system for self-declaration, exemptions, speedier approvals and inspections to establish and operate in the State of Punjab and matters connected therewith or incidental thereto.

Further, in order to strengthen and support the Micro, Small and Medium Enterprises at the district level, the Government has established the District Bureau of Enterprise in all Districts of the State, specifies the Powers and Functions of District Bureau of Enterprises, establishment of Nodel Agency and their Powers and Functions.

A new Micro, Small and Medium Enterprise, shall furnish to the District Nodal Agency a Declaration of Intent to set up its business in the format and in the manner as may be prescribed. A Certificate of In Principle Approval will act as an approval for a period of three years and six months from the date of its issuance.

For new enterprises being set up in Approved Industrial Park(s), the District Nodal Agency, upon receipt of a Declaration of Intent, will issue a Certificate of In Principle Approval to an enterprise within three working days.

In the case of any willful submission of false and fraudulent information in the application or violation of any provisions of the relevant rules, the Certificate of In Principle Approval will be revoked by the District Nodal Agency after giving an opportunity of being heard.

The Government or any authority under it is empowered to exempt any enterprise from any approval or inspection or any provisions relating thereto for at least a period of three years and six months from the date of issue of the Certificate of In Principle Approval.

[Notification No. 1-PLA-2020/5]


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