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KARNATAKA ACT NO. 07 OF 2020

31 sections · 0 chapters

Preamble
Section 1 Short title and commencement.-(1) This Act may be called the Karnataka
Section 2 Definitions.- In this Act, unless the context otherwise requires,-
Section 3 Karnataka Innovation Authority.-(1) As soon as may be, after the
Section 4 Composition of the Authority - The Authority shall consist of the following
Section 5 Meetings of the Authority.-(1)The Authority shall meet at such times and places
Section 6 Vacancies, etc., not to invalidate proceedings of the Authority.-No act or
Section 7 Powers and functions of the Authority.-The Authority shall have following
Section 8 Sub-committees of the Authority.-(1)The Authority may for any specific purpose
Section 9 Permission to establishing a Regulatory Sandbox.- The Authority may grant
Section 11 Suo Moto Establishment of a Regulatory Sandbox.-(1)Notwithstanding
Section 12 Terms and Conditions for participants in the Regulatory Sandbox.-(1)Every
Section 13 Regulatory Sandbox to be established by Notification.-(1)Where the Authority
Section 14 Participation in the Regulatory Sandbox.-(1)A Sandbox Operator shall, within
Section 15 Modification of Regulatory Sandbox.-(1) The Authority may, by notification in
Section 16 Expiry or Withdrawal of the Regulatory Sandbox.-(1) The Regulatory Sandbox
Section 17 Operator without giving the participant an opportunity of being heard.
Section 18 Establishment of Technical Secretariat.-(1) The Authority shall be assisted by
Section 19 Authority.
Section 20 Funds of the Authority.-(1)There shall be a fund called as the Karnataka
Section 21 Accounts and audits.-(1)The Member Secretary or an officer not below the rank
Section 22 Authority to remedy the irregularities or loopholes, if any, pointed out by the auditor.
Section 23 Confidentiality of Information.- Notwithstanding anything contained in this
Section 24 Protection of action taken in good faith.-No suit, prosecution or other legal
Section 25 Penalties.-(1) Any Sandbox operator or any participant who violates any of the
Section 26 Bar of Jurisdiction on Civil Courts.- No Civil Court below the court of District
Section 27 Power to removal of difficulties.-(1) If any difficulty arises in giving effect to the
Section 28 State Legislature.
Section 29 Power to make rules.-(1) The Government may by notification, after previous
Section 30 Power to make regulations.-The Authority may subject to the provisions of this
Section 31 Transitory provisions.- Any rule, notification or order made or issued under the
Section 32 Repeal and Savings.- (1) The Karnataka Innovation Authority Ordinance,

KARNATAKA ACT NO. 07 OF 2020

General2020Karnataka Act

KARNATAKA ACT NO. 07 OF 2020

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