In Lok Sabha, the Special Economic Zones (Amendment) Bill, 2019 was introduced by the Ministry of Commerce and Industry as of 24 June 2019. It seeks to amend the Special Economic Zones Act, 2005.
Amendments made in the bill
Post to the amendment of sub-section (v) of section 2 of the Special Economic Zones Act, 2005, any entity or a trust informed by the Central Government will be qualified to be considered for grant of permission to establish a unit in Special Economic Zones (SEZs).
This bill provides flexibility to the union government to include 'trusts' in the definition of a 'person', in a bid to promote investments in SEZs.