Definitions

In this Act, unless the context otherwise requires,— (a) "agriculture" and "agricultural purpose" shall include making land fit for cultivation, cultivation of land, improvement of land including development of sources of irrigation, raising, protecting and harvesting of crops, horticulture, forestry, planting and farming, cattle breeding, animal husbandry, dairy farming, seed farming, pisciculture, apiculture, sericulture, piggery, poultry farming and such other activities as are generally carried on by agriculturists, dairy farmers, cattle breeders, poultry farmers and other categories of persons engaged in similar activities including marketing of agricultural products, their storage and transport and the acquisition of implements and machinery in connection with any such activity ; (b) "agriculturist" means a person who is engaged in agriculture: (c) "Agro-Industries Corporation" means a company or other body corporate, one of the principal objectives of which is to undertake activities connected with or intended for the development of agriculture and not less than fifty-one per centum of the paid up share capital of which is held by the Central Government or by any State Government or Governments or partly by the Central Government and partly by one or more State Governments;. (d) "bank" means— (i) a banking company as defined in the Banking Regulation Act, 1949; (ii) the State Bank of India constituted under the State Bank of India Act, 1955; (iii) a subsidiary bank as defined in the State Bank of India (Subsidiary Bank) Act, 1959 : (iv) any of the banks mentioned in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; (v) any banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949; (vi) the Agricultural Refinance Corporation constituted under the Agricultural Refinance Corporation Act, 1963; (vii) the Agro-Industries Corporation as defined in sub-clause (c); (viii) the Agricultural Finance Corporation Limited, a company incorporated under the Companies Act, 1956; and (ix) any other financial institution notified by the State Government in the official Gazette as a bank for the purposes of this Act; (e) "co-operative society" means a co-operative society as defined in clause (c) of section 2 of the Punjab Co-operative Societies Act, 1961, the object of which is to provide financial assistance as defined in clause (f) of this section to its members and includes the co-operative land mortgage bank; (f) "financial assistance" for the purposes of this Act means assistance granted by way of loans, advances, guarantee or otherwise for agricultural purpose : (g) "Registrar" means the Registrar as defined in the Punjab Co-operative Societies Act, 1961.