Chapter I PRELIMINARY

Andhra Pradesh State Development Corporation Act, 2020. (2)It extends to the whole of the State of Andhra Pradesh. (3)It shall be deemed to have come into force on and from the 29 th day of September 2020.

(1)‘Accounts’ means as defined under Indian Accounting Standards or Indian Generally Accepted Accounting Principles issued from time to time; (2)‘Act’ means the Andhra Pradesh State Development Corporation Act, 2020; (3)‘Board’ means the Board of Directors of the Corporation; (4)‘Chairman’ means an executive elected by a company's board of directors who is responsible for presiding over board or committee meetings; (5)‘Corporation’ means the ANDHRA PRADESH STATE DEVELOPMENT CORPORATION LIMITED (APSDC) constituted under section3(1) of this Act; (6)‘Government’ means the Government of Andhra Pradesh; (7)‘Member’ means Shareholder as defined in Companies Act, 2013(Central Act No.18 of 2013); (8)‘Prescribed’ means prescribed by rules, regulations and/or standing orders made under this Act; (9)‘Rule’ means a rule made under this Act by Government and laid before the State Legislature; (10)‘Social and Economic Development’ with its grammatical variations means and includes provision of basic amenities like Quality Education, Reliable Healthcare, Clean Water & Sanitation, Farmer Welfare, Women Empowerment, Housing for Poor, Rural Development, Poverty Eradication and to undertake various economic and social development projects& activities in the State of Andhra Pradesh;

(11)‘State’ means the State of Andhra Pradesh; (12)‘Vice Chairman & Managing Director’ means Vice-Chairman & Managing Director of Andhra Pradesh State Development Corporation Limited and appointed vide G.O.MS.No.80, of Finance (PMU-CASPS, FC&IF) Department, dated 27.08.2020.