Vidhi Codex

The Punjab State Aid to Industries Act, 1935

The Punjab State Aid to Industries Act, 1935

General193547 sections

The Punjab State Aid to Industries Act, 1935 establishes a regulatory framework for providing government support to industrial enterprises, particularly new, nascent, cottage, and village industries. It establishes a Board of Industries to oversee applications for financial aid, which includes direct loans, subsidies, land grants, government guarantees, and machinery supplied through hire-purchase systems. The law applies to individual entrepreneurs, companies, and traditional artisans seeking state assistance to start, modernize, or expand their operations. By standardizing aid mechanisms, inspection requirements, and loan recovery procedures, the legislation aims to stimulate local economic growth, foster entrepreneurship, and preserve rural livelihoods.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement
  2. 2. Definitions
  3. 3. Establishment of a Board of Industries
  4. 5. Vice-Chairman
  5. 6. Elections and appointments to be notified in Official Gazette
  6. 7. Term of office
  7. 8. Removal of members
  8. 9. Casual vacancies
  9. 10. Allowances and fees
  10. 11. President at meetings
  11. 12. Interested members not to vote
  12. 13. Board to make regulations
  13. 14. Supersession of Board
  14. 15. Duty of Board
  15. 16. Documents and report to be furnished to the Central Government
  16. 17. Forms of State aid
  17. 18. Industries to which several forms of State aid may be given
  18. 19. Application for State aid
  19. 20. Power to grant
  20. 21. Security for repayment
  21. 22. Loan how repayable
  22. 23. Notice to pay
  23. 24. Effect of declaration
  24. 25. Execution of declaration
  25. 26. Inspection and returns
  26. 27. Penalty for default in applying the loan
  27. 28. Power to adjust security during currency of loan
  28. 29. Power to recover loans
  29. 30. Appeal
  30. 31. Government guarantee of a minimum return
  31. 32. Subsidies
  32. 33. Disposal of profits when State aid is taken
  33. 34. Control of industry
  34. 35. Method of recovery
  35. 36. Percentage of cost to be deposited
  36. 37. Particulars to be specified in application is allowed
  37. 38. Conditions of supply of machinery on hire-purchase system
  38. 39. Default by hirer
  39. 40. Option of hirer to purchase in case of default
  40. 41. Termination of hiring where hirer does not purchase under section 40
  41. 42. Termination of hiring on payment of cost of machinery
  42. 43. Penalty for non-removal of metal plate
  43. 44. Sums due under this Chapter recoverable as loans under Chapter IV
  44. 45. Finality of decision of Central Government and bar of legal proceedings
  45. 45-A. All loans granted under the Patiala and East Punjab States Union State Aid to Industries Act, 2007 to be deemed to be granted under this Act
  46. 46. Power to make rules
  47. 47. Repeal

PDF: pending for this language.