CHAPTER 43:10
SMALL BUSINESS

 

ARRANGEMENT OF SECTIONS

 

   SECTION

 

 

 

PART I
Preliminary

 

   1.   Short title

 

   2.   Interpretation

 

 

 

PART II
Local Enterprise Authority

 

   3.   Establishment of Local Enterprise Authority

 

   4.   Functions of Authority

 

   5.   Appointment of officers and employees

 

 

 

PART III
Board of Local Enterprise Authority

 

   6.   Establishment of Board

 

   7.   Appointments to Board

 

   8.   Composition of Board

 

   9.   Tenure of office

 

   10.   Disqualification

 

   11.   Removal of member from Board

 

   12.   Resignation

 

   13.   Vacation of office

 

   14.   Filling of vacancy

 

   15.   Remuneration

 

   16.   Meetings and proceedings of the Board

 

   17.   Declaration of interest

 

   18.   Committees

 

   19.   Signification of documents

 

 

 

PART IV

 

   20. - 22.   . . . . . .

 

 

 

PART V
Financial Provisions

 

   23.   Funds

 

   24.   Financial Year

 

   25.   Accounts and audit

 

   26.   Annual report

 

 

 

PART VI
General

 

   27.   Regulations

 

 

Act 7, 2004,
Act 16, 2008.

An Act to establish the Local Enterprise Authority and to provide for functions and matters incidental thereto.

[Date of Commencement: 13th February, 2004.]

PART I
Preliminary (ss 1-2)

 

1.   Short title

   This Act may be cited as the Small Business Act.

 

2.   Interpretation

   In this Act, unless the context otherwise requires-

   "Authority" means the Local Enterprise Authority established under section 3;

   "Board" means the Board of the Local Enterprise Authority established under section 6;

   "Chairperson" means the chairperson of the Board appointed under section 8(3);

   "medium enterprise" means a business entity with such annual turnover and staff complement as the Minister may, by Order published in the Gazette, prescribe;

    "member" means a member of the Board;

   "micro enterprise" means a business entity with such annual turnover and staff complement as the Minister may, by Order published in the Gazette, prescribe;

   "small enterprise" means a business entity with such annual turnover and staff complement as the Minister may, by Order published in the Gazette, prescribe; and

   "SMME" means small, micro or medium enterprise.

PART II
Local Enterprise Authority (ss 3-5)

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