Definitions

In this Chapter, unless the context otherwise requires,— (a) “allottee” means a member of a co-operative housing society to whom a plot of land, or site, or a tenement in a building held by it, is allotted by the society; (b) “building fund” means a fund created by the collection of contribution from members for— (i) the purchase and or acquisition of land; or (ii) the land development; or (iii) the construction of a dwelling unit or building; or (iv) the purpose of providing any other common amenities to achieve the objectives of the society. (c) “building maintenance fund” means a fund created by collection of the contributions from its members at such rate as may be specified in the bye-laws for carrying out repairs or structural additions, improvements or alterations to the property of the co-operative housing society which are likely to increase the life of such property and to maintain the property of the said society in good and habitable condition at all times; (d) “commercial unit” means office, shop, godown, garage or such other premises used for commercial or industrial purpose; (e) “co-operative housing society” means a society— (i) registered or deemed to be registered as a co-operative housing society under any law relating to co-operative societies in force in the State of Goa;