law: The Micro, Small and Medium Enterprises Development Act, 2006 
  2. Definitions.-
  In this Act, unless
  
  the context otherwise requires,
  (a) Advisory
  
  Committee means the committee constituted by the Central Government under
  
  sub-section (2) of section 7;
  (b) appointed day
  
  means the day following immediately after the expiry of the period of fifteen
  
  days from the day of acceptance or the day of deemed acceptance of any goods or
  
  any services by a buyer from a supplier. Explanation. For the purposes of this
  
  clause,(i) the day of acceptancemeans,
  a.     
  
    the
  
  day of the actual delivery of goods or the rendering of services; or
  b.    
  
    where
  
  any objection is made in writing by the buyer regarding acceptance of goods or
  
  services within fifteen days from the day of the delivery of goods or the
  
  rendering of services, the day on which such objection is removed by the
  
  supplier;(ii) the day of deemed acceptance means, where no objection is made in
  
  writing by the buyer regarding acceptance of goods or services within fifteen
  
  days from the day of the delivery of goods or the rendering of services, the
  
  day of the actual delivery of goods or the rendering of services;
  c.     
  
    Board
  
  means the National Board for Micro, Small and Medium Enterprises established
  
  under section 3;
  d.    
  
    (d
  
  ) buyer means whoever buys any goods or receives any services from a supplier
  
  for consideration;
  e.     
  
    enterprise
  
  means an industrial undertaking or a business concern or any other
  
  establishment, by whatever name called, engaged in the manufacture or
  
  production of goods, in any manner, pertaining to any industry specified in the
  
  First Schedule to the Industries (Development and Regulation) Act, 1951 or
  
  engaged in providing or rendering of any service or services;
  f.     
  
  
  
    goods
  
  means every kind of movable property other than actionable claims and money;
  g.    
  
    medium
  
  enterprise means an enterprise classified as such under sub-clause (iii) of
  
  clause (a) or sub-clause (iii) of clause (b) of sub-section (1) of section 7;
  h.     
  
    micro
  
  enterprisemeans an enterprise classified as such under sub-clause (i) of clause
  
  (a) or sub-clause (i) of clause (b) of sub-section (1) of section 7;
  i.      
  
    National
  
  Bank means the National Bank for Agriculture and Rural Development established
  
  under section 3 of the National Bank for Agriculture and Rural Development Act,
  
  1981;
  j.      
  
    notification
  
  means a notification published in the Official Gazette;
  k.     
  
    prescribed
  
  means prescribed by rules made under this Act;
  l.      
  
    Reserve
  
  Bank means the Reserve Bank of India constituted under section 3 of the Reserve
  
  Bank of India Act, 1934;
  m.   
  
  
  
    small
  
  enterprise means an enterprise classified as such under sub-clause (ii) of
  
  clause (a) or sub-clause (ii) of clause (b) of sub-section (1) of section 7;
  n.     
  
    suppliermeans
  
  a micro or small enterprise, which has filed a memorandum with the authority
  
  referred to in sub-section (1) of section 8, and includes,
                       
  
   i.        
  
    the
  
  National Small Industries Corporation, being a company, registered under the
  
  Companies Act, 1956;
                      
  
   ii.        
  
  
  
    the
  
  Small Industries Development Corporation of a State or a Union territory, by
  
  whatever name called, being a company registered under the Companies Act, 1956;
                     
  
   iii.        
  
    any
  
  company, co-operative society, trust or a body, by whatever name called,
  
  registered or constituted under any law for the time being in force and engaged
  
  in selling goods produced by micro or small enterprises and rendering services
  
  which are provided by such enterprises;
  a.    
  
  
  b.    
  
  
  c.    
  
  
  d.    
  
  
  e.    
  
  
  f.    
  
  
  g.    
  
  
  
  
  h.    
  
  
  i.    
  
  
  j.    
  
  
  k.    
  
  
  l.    
  
  
  m.    
  
  
  n.    
  
  
  o.    
  
    Small
  
  Industries Bank means the Small Industries Development Bank of India
  
  established under sub-section (1) of section 3 of the Small Industries
  
  Development Bank of India Act, 1989;
  p.    
  
    State
  
  Government, in relation to a Union territory, means the Administrator thereof
  
  appointed under article 239 of the Constitution.