Definition.

2. In this Act, unless the context otherwise requires, (a) “Agriculture” includes horticulture, raising of crops, grass or garden produce, animal husbandry, dairy farming, poultry farming and breeding of livestock;

1. (b) “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 Banks) Act, 1959 ;
   • (iv) A corresponding new bank constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1980;
   • (v) Any banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949;
   • (vi) Any other financial institution notified by the State Government by a notification in the Official Gazette, as a bank for the purpose of this Act;
2. (c) “Corporation” means any corporation owned or controlled by the Central or the State Government and specified by the State Government by a notification in the Official Gazette;
3. (d) “Certificate officer” means a Collector, a Sub-Divisional Officer and any other officer appointed by the State Government to perform the functions of a certificate officer under this Act;
4. (e) “Financial assistance” means any kind of financial assistance given, (i) For establishing, expanding, modernizing, renovating or running any industrial undertaking; or
   • (ii) For the purpose of vocational training ; or
   • (iii) For the development of agriculture or agro-industry; or
   • (iv) For purpose of any other kind of planned development recognized by the State Government; or
   • (v) For relief against distress caused by fire or serious drought, flood or other natural calamities ; or
   • (vi) For the purpose of carrying out any state sponsored scheme; or
   • (vii) For any other prescribed purpose.
5. (f) “Government company” means a Government company as defined in section 617 of the Company’s Act, 1956;
6. (g) “Industrial concern” shall have the same meaning as is assigned to that expression in the State Financial Corporations Act, 1951;
7. (h) “Industrial undertaking” includes any undertaking for the manufacture, preservation, storage or processing of goods, or mining or the hotel industry or the transport of passengers or goods, or the generation or distribution of electricity or any other form of energy, or for the development of any contiguous area of land as an industrial estate. Explanation, The expression “processing of goods” includes any art or process for producing, preparing or making an article by subjecting any material to a manual, chemical, electrical or any other like operation;
   • (i) “prescribed” means prescribed by rules made under this Act;
8. (j) “public demand” means, (i) any arrear of revenue or land revenue;
   • (ii) arrear of rent payable to a court of ward or a revenue authority in relation to property of a private individual when such property, is under the charge of such court or authority;
   • (iii) Any money payable to the Central or State Government or a corporation or a bank or a Government company in repayment of a loan, advance or grant or payment of interest, cost or other dues in cash or in kind under an agreement including an agreement of hire purchase or leass or under any law for the time being in force or under order of any Court or Tribunal;
   • (iv) Any money due from a purchaser at a sale held in execution of a certificate under this Act where the sale is subsisting or not;
   • (v) Any money payable to a local authority;
   • (vi) Any sum payable to Government by a person on account of dues for occupation by such person of any house, tenement or room belonging to the Government;
   • (vii) Any money which is declared by any law for the time being in force to be recoverable as an arrear of land revenue;
9. (k) “State sponsored scheme” means a scheme sponsored or adopted by the State Government or an officer authorized by it in this behalf for the development of agriculture or industry and notified as such by the State Government or the authorized officer, by a notification in the Official Gazette ;
10. (l) “State Government” means the State Government of Tripura.