DEFINITIONS

In this Act, unless the context otherwise requires: (1) "Authority" means the Uttarakhand Investment and Infrastructure Regulatory Authority (UllRA) under Section 14. (2) "Board" means the Uttarakhand Investment and Infrastructure Development Board under Section 4; (3) "Bye-laws" means the bye-laws made by the Board under Section 10; (4) "CCIE" shall mean Conciliation Committee of Independent Experts formed by the Government of Uttarakhand. (5) "Chairperson" means the chairperson of the Authority; (6) "Command Area" for a project means an area influenced by a project directly and where the economic Activity generated is significantly based on the aforementioned project. Such an area is to be notified by the relevant Government body / planning authority, upon UllDB's request, specifically for any project. (7) "Committee" means a committee and includes Sectoral Sub-Committee, Project Implementation Sub-Committee or any other Committee called by any other name, constituted by the Board under this Act for the purposes assigned to them; (8) "Concession" includes any right or interest granted to a concessionaire in relation to any aspect of a project, as well as any subsidy, subvention, grant or other similar financial incentive granted by the State Government to secure the viability and commercial efficacy of a project; (9) "Concession agreement" means any of the contracts executed for the purposes of private participation in a project between a concessionaire and a public agency in terms of this Act, or the rules made there under as per the model specified in Schedule II; (10) "Concession Fee" means the sum of money required to be paid by the concessionaire to the Board and / or another government department / agency in consideration of grant of a concession for undertaking a project pursuant to the provisions of this Act and rules made thereunder; (11) "Concessionaire" means a person, or Company, Trust, LLP (Body Corporates) who is selected and awarded a concession in terms of this Act or rules made thereunder; (12) "Development" includes creation of new facilities, new concepts, projects and / or rehabilitation, improvement, expansion, alteration and replacement of existing facilities; (13) "Development Fund" means the Uttarakhand Investment and Infrastructure Development Fund constituted under Section 11; (14) "Disinvestment" means a sale of equity or shares held by the State Government or a public body to any person; (15) "Feasibility Report" shall mean a report prepared by the board by itself or through its Sub-consultants as described in section 29. (16) "Fee" means a consideration levied and collected by the Board for provision of services, development of assets, etc. under this Act; (17) "Government Department" in the context of this Act shall also mean any Government Company, Government-owned or controlled Corporation, Government Directorate, Local Authority, Public Body, or any other Government-owned or controlled body; (18) "Infrastructure sector" means an infrastructure sector specified in Schedule I and shall include such other sectors as may be notified by the State Government from time to time; (19) "IRR" means the calculated annual Internal Rate of Return of a project. IRR takes into account all the costs and revenues of the project; (20) "Milestone" means a schedule or chart indicating the specified time within which a work is to be completed; (21) "Notification" means a notification published in the Official Gazette of the State of Uttarakhand; (22) "Prescribed" means prescribed by the rules made under this Act; (23) "Private participation" means the participation in development or maintenance or operation of projects by any person other than the State Government or State government department or State government agency or State government body as may be permitted by the Board from time to time; (24) "Project" means a project in any sectors, which may involve development or maintenance or operation of assets / facilities / service provision through private participation or financial sources other than those provided by State Government; (25) "Project Proceeds" means all income to the State Government Department or any State Government Agency by a project facilitated by the Board by way of Concession Fee etc.; (26) "Public body" means a body either established by State Government or working under the control of the State Government; (27) "Public Agency" or "Government Agency" means a Government Department, Government Company, Government-owned or controlled Corporation, Local Authority or a Public Body, which own, govern or control projects in infrastructure sectors; (28) "PPP Policy 2019" means the Uttarakhand Public Private Partnership Policy adopted by the State Government in 2019; (29) "Rules" means the rules made by the State Government under Section 43; (30) "Schedule" means a schedule appended to this Act; (31) "Section" means a section of this Act; (32) "Sectoral policy" means a policy of the State government pertaining to a sector; (33) "Service provider" means any agency or body other than those, constituted under the Act, which provides services to the Board; (34) "Special Purpose Vehicle" or "SPV" means a Company, which is created by a Concessionaire to execute a project; (35) "State Government" means the Government of the State of Uttarakhand; (36) "Tariff" means a toll or charge or any other sum payable by the users of a project to the project developer; (37) "UllDB" shall mean Uttarakhand Investment and Infrastructure Development Board; (38) "UllDF" shall mean Uttarakhand Investment and Infrastructure Development Fund; (39) "UllRA" shall mean Uttarakhand Investment and Infrastructure Regulatory Authority; (40) "VGF" means viability gap funding and is expressed as a percentage of the overall project cost. It refers to the share of the project cost to be borne by the State government / board to make the project financially viable for the concessionaire.