Vidhi Codex

THE HIMACHAL PRADESH STATE AID TO INDUSTRIES ACT 1968

The Himachal Pradesh State Aid to Industries Act, 1968

General196848 sections6 chapters

The Himachal Pradesh State Aid to Industries Act, 1968, establishes a legal framework for the State Government to provide financial and material support to industrial enterprises. It aims to foster economic growth by offering loans, subsidies, hire-purchase machinery, and guarantees to new, nascent, or developing industries, including cottage and village industries. The Act creates a "Board of Industries" to advise the government on these aid applications. For citizens and business owners, it provides a structured path to access government capital while imposing strict repayment obligations and inspection rights. It ensures accountability by allowing the government to recover unpaid aid as arrears of land revenue.

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Chapter I PRELIMINARY →

  1. 1Short title, extent and commencement
  2. 2Definitions

Chapter II ESTABLISHMENT OF BOARD OF INDUSTRIES AND MATTERS →

  1. 3Establishment of Board of Industries.-(1) For carrying out the
  2. 4Procedure in default of election of members
  3. 5Vice-Chairman
  4. 6Election or appointments to be notified in the Official Gazette.-
  5. 7Term of office
  6. 8Removal of members
  7. 9Casual vacancies
  8. 10Allowances and fees
  9. 11Act.
  10. 12Interested members not to vote
  11. 13Power of Board to make regulations
  12. 14Supersession of Board
  13. 15Duty of Board.-It shall be the duty of the Board-
  14. 16Documents and reports to be furnished to the State Govern- ment

Chapter III GENERAL PROVISIONS REGARDING THE GIVING OF STATE →

  1. 17Form of State aid
  2. 18Industries to which several forms of State aid may be given.-
  3. 19Application for State aid

Chapter IV PROVISIONS REGULATING THE GIVING OF STATE AID →

  1. 20Power to grant loans.-Loans granted under this Chapter subject
  2. 21Security for repayment
  3. 22Loan how repayable
  4. 23Notice to pay
  5. 24Effect of declaration
  6. 25Execution of declaration
  7. 26Inspection and returns
  8. 27Directormay prescribe.
  9. 28Power to adjust security during currency of loan
  10. 29Power to recover loans
  11. 30Appeal.-Within 30 days of the receipt of a notice under sections
  12. 31Government and the decision of the State Government thereon shall be final.
  13. 32Subsidies
  14. 33Disposal of profits when conditions on which State aid is given are not fulfilled
  15. 34Government control of aided industry
  16. 35Method of recovery of money due

Chapter V SUPPLY OF MACHINERY ON HIRE-PURCHASE SYSTEM →

  1. 36Percentage of cost to be deposited by hirer
  2. 37Chapter IV.
  3. 38Conditions of supply of machinery on hire-purchase system.-
  4. 39Consequence of default by hirer
  5. 40Option of hirer to purchase machinery seized for default.-(1)
  6. 41Liability of hirer on termination of hiring under section 39
  7. 42Termination of hiring on payment of cost of machinery.--
  8. 43Penalty for non-removal of metal plate from machinery
  9. 44Sums due under this Chapter recoverable as loans under

Chapter VI SUPPLEMENTAL →

  1. 45Finality of decision of State Government and bar of suits and proceedings in civil and criminal courts
  2. 46Government officer or other authority vested with powers under this Act for anything in good faith done or intended to be done thereunder.
  3. 47Repeal and savings.-(1) The Punjab State Aid to Industries Act,

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