Definitions

In this Act, unless the context otherwise requires,- (a) "Bank" means a banking company as defined in the Banking Regulation Act, 1949 (No. 10 of 1949) and includes:- (i) the State Bank of India constituted under the State Bank of India Act, 1955 (No. 23 of 1955); (ii) a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (No. 38 of 1959); (iii) a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (No. 5 of 1970); (iv) the Agricultural Refinance and Development Corporation constituted under the Agricultural Refinance and Development Corporation Act, 1963 (No. 10 of 1963); (v) the Agricultural Finance Corporation Limited, a company incorporated under the Companies Act, 1956 (No. 1 of 1956); (vi) a financing bank as defined in the Madhya Pradesh Co-operative Societies Act, 1960 (No. 17 of 1961); and (vii) any other banking institution that may be notified by the State Government to be a bank for the purpose of this Act. (b) "Beej or Seed" means seeds of food grains, fiber crops, plantation crops, oil seeds, commercial crops, vegetables, fruits and fodder and includes seedlings, tubers, bulbs, rhizomes, roots or stem cuttings (rooted or unrooted) grafts and all other vegetatively propagated plant materials; (c) "Board" means the Board of Directors of the Nigam constituted under Section 8; (d) "Financing Institution" means any statutory corporation or other body corporate established in India which has one of its objects the financing of agriculture in India and which is notified by the State Government to be a financing institution for the purposes of this Act; (e) "Land" shall have the same meaning as assigned to that expression under the Madhya Pradesh Land Revenue Code, 1959 (No. 20 of 1959); (f) "Nigam" means the Madhya Pradesh Rajya Beej Evam Farm Vikas Nigam established under this Act; (g) "Farm" means an area of land belonging to the Nigam or not which is used or proposed to be used for agricultural farm for the production of seeds; (h) "Project" means any project or scheme for seeds and farm development approved under Sectior 25; (i) "Regulation" means regulations made by the Nigam under Section 41; (j) "Works" includes any works relating to organisation, production, conservation, development or exploitation of seeds and agricultural farms to be executed under a project under this Act; (k) "Year" means the financial year.