The Madhya Pradesh Investment Facilitation (Amendment) Act, 2023

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MADHYA PRADESH ACT No. 22 OF 2023 THE MADHYA PRADESH INVESTMENT FACILITATION (AMENDMEN1) ACT, 2023

[Received the assent of the Gonrnor on the 10"' Augwt, 2023; 11Ssent rlJ'st 1mblishetl ill lhe "MadhyR Pnulesh Gtu:ette

(Extra•ordin,,.cy)", dated lhe 14"' August, 2023.)

An Ad further to emend the Madhya Predesh Investment Facilitation Ad, 2008.

Be it enacted by the Madhya Pradesh Legislature in the Seventy-fourth year of lhe Republic of India as follows :-

I. (1) This Act may be called the Madhya Pradesh Investment Facilitation (Amendment) Act, 2023.

Short title and commmcemoL

1. (2) It shall come into force from lhe date of its publication in !he Madhya Pradesh Gazette.

For section 18 of the Madhya Pradesh Investment Facilitation Act, 2008 (No. 21 of 2008). the following section shall be substituted. namely :- "18. Any entrepreneur. who fails to comply with the conditions or the undertaking in the self-certification given to the Nodal Agency or the other department or authorities shall be liable for a penalty imposed by the Competent Authority, which may extend to fifty thousand rupees for the first failure and for the second or subsequent failures with a penalty which may extend to one lakh rupees.".