The amendments to the Act were necessitated following the 97th amendment to the Constitution of India passed by Parliament in January last year. As per that amendment, states are expected to bring into effect amended laws from February 15 this year.
In Maharashtra's case, the issuance of an ordinance is the only option as the state legislature is in recess and will meet during the winter session beginning March 11.
Cooperation minister Harshvardhan Patil said the cabinet discussed the amendments and gave in principle approval.
Patil is scheduled to address a press conference regarding the 97th constitutional amendment.