Definitions

In this Act, unless the subject or context otherwise requires, - (a)Act means the Meghalaya- Infrastructure Development Finance Board Act, 2011; (b)Approved Detailed Project Report means the Approved Detailed Project Report adopted and published by' the Board in accordance with Section 23; (c)Bankable Projects means those Infrastructure Projects which are determined by the Board to be -Viable' for the purpose of financing;

1. (d) Board means the Meghalaya Infrastructure Development Finance Board constituted under Section 3(1);
2. (e) Central Government means the Government of India, its respective departments or any other authorities, agencies and instrumentalities functioning under the direction or control of the Government of India;
3. (f) Chairperson means the chairperson of the Board appointed under Section 4(1);
4. (g) Concession means grant of financial assistance or conferment of right on government property and public assets to a person other than the State Government or Government Agency as per the terms specified in the Concession Agreement;
5. (h) Concessionaire means a person with whom Concession Agreement is entered into by the State Government, the Government Agency or the Specified Government Agency; (i) Concession Agreement means the agreement of the nature and parameter specified in Schedule II that may be entered by and between the Concessionaire and the State Government, the Government Agency or the Specified Government Agency;
6. (j) Consultant means the consultancy agency, whether belonging to the State Government or any other person(s) which is entrusted by the Board with preparing of the Detailed Project Report;
7. (k) Detailed Project Report means the Detailed Project Report prepared by the Consultant in accordance with Section 22;
   • (I) Escrow Account means a bank account in which cash is deposited or from which cash is withdrawn in the manner specified in the Concession Agreement;
8. (m) Financial Year means the period of twelve months commencing on the 1st of April of each year and ending on the 31st March of the following year;
9. (n) Fund means the Meghalaya Infrastructure Development Fund constituted under Section 20 (1);
10. (o) Government Agency means a corporation or a body owned or controlled . by the State Government or an authority established by or under any law and includes Local Authority;
11. (p) Infrastructure Projects means the infrastructure projects specified in Schedule-I and such other projects as may be notified by the State Government from time to time;
12. (q) Local Authority means a municipal board or corporation, municipal council, municipal town committee or notified areas committee;
13. (r) Member means a Member of the Board including Chairperson;
14. (s) prescribed means prescribed by rules or regulation made under this Act;
15. (t) Specified Government Agencies means the State Government and Government Agencies participating jointly;
16. (u) State means the State of Meghalaya;
    • (v) State Government means the Government of the State of Meghalaya and its departments, agencies and instrumentalities functioning under its direction or control;
17. (w) State Government Guarantee means a guarantee given by the State Government to a Concessionaire;
    • (x) Subsidy means financial assistance in cash or kind provided by the Board, State Government, Government Agencies or Specified Government Agencies; and
18. (y) User Charges means the right or authority granted to the developer by the State Government to recover investment and fair return on investment and shall include toll, fee, charge, rentals or benefit by whatever, name called.