Vidhi Codex

The Kerala State Aid to Industries Act, 1963

The Kerala State Aid to Industries Act, 1963

General196338 sections2 chapters

The Kerala State Aid to Industries Act, 1963 establishes a framework to accelerate economic development in Kerala by offering state assistance to industrial enterprises. It applies to individuals, companies, small-scale units, cottage industries, and village businesses across the state, excluding certain funded co-operatives. State aid includes loans, bank guarantees, share purchases, land concessions, subsidies, and machinery hire-purchase schemes. Governed by a dedicated Board, the Act sets guidelines for processing applications, monitoring financial performance, and recovering funds. This legislation matters because it provides vital financial backing to help new and existing businesses expand, generating employment and boosting local industry.

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Chapter I Preliminary →

  1. 1Short title, extent and commencement
  2. 2Definitions
  3. 3Constitution of State Aid to Industries Board
  4. 4Term of office of members
  5. 5Resignation
  6. 6Removal of members
  7. 7Filling up of vacancies
  8. 8Presidency at meetings
  9. 9Dissolution of the Board
  10. 10Industries which may be aided
  11. 11Forms of State aid
  12. 12Conditions for the guarantee and grant under section 11 (e) and (f)
  13. 13Conditions for grant of loan
  14. 14Loans how secured
  15. 15Application for State aid and authorities by whom aid may be granted
  16. 16Supervision of assisted industry
  17. 17Inspection and returns
  18. 18Disposal of profits when condition of State aid is not fulfilled
  19. 19Power of Government to adjust security during currency of loans
  20. 20Power of authority sanctioning the loan to terminate aid
  21. 21Protection of action taken under the Act
  22. 22Persons acting under this Act to be deemed public servants
  23. 23Penalty
  24. 24Percentage of value to be deposited by hirer
  25. 25Particulars to be specified in the order when application is allowed
  26. 26Conditions of supply of machinery on hire purchase system
  27. 27Consequences of default by hirer
  28. 28Option of hirer to purchase machinery seized for default
  29. 29Termination of hiring by hirer
  30. 30Liability of hirer on termination of hiring under sections 27 and 29
  31. 31Termination of hiring on payment of cost of machinery
  32. 32Revision
  33. 33Review of orders by Government
  34. 34Fees
  35. 35Mode of recovery of money due
  36. 36Power to make rules
  37. 37Repeal

Chapter V Miscellaneous →

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