Which of the following provisions apply to delayed payments to MSMEs as per the MSMED Act, 2006?
1. Buyers must make payments within 45 days of acceptance or deemed acceptance.
2. Interest on delayed payments is calculated at three times the Bank Rate, compounded monthly.
3. Disputes over payments are resolved by the Micro and Small Enterprises Facilitation Council.
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
All of the above
5
None of the above