Amendment status not verified — confirm the current text below against the official source.
In this Act, unless the coutext otherwise requires,— (a) "Collector- means a Collector of the district and iacludes any person appointed by the State Government to perform the functions of a Collector under this Act; (h) "Corporation- means. the Haryana Financial Corporation established under the State Financial Corporations Act, 1951, and includes any other Corporation owned or controlred by the Central Government or the State Government which the State Government may, by notification, specify; (e) "Defaulter" means a person who, either as principal or as surety, IS a party -- (1) to any agreement relating to a loan, advance or grant given under that agreement or relating to credit in respect of, or relating to hire-purchase of, goods sold by the State Government or the Corporation, by way of financial assistance; or (11) to any agreement relating to a loan, advance or grant given under that agreement or relating to credit in respect of, or relating to hire-purchase of, wads sold by a Government company under the State -sponsored scheme ; or (fin to any agreement relating to a. guarantee given by the State Government or a Corporation in respect of a loan raised by an industrial concern ; o r l * Definitions. 7e HARYANA GOV'T GAZ. (EXTRA.), OCT. 24, 1979 (KART1KA 2, 1901 SAKA) fl ow e tami app ag aM M EN N Eam. • (Iv) to any agreement providing that any money payable there- under to the State Government hall he reeoverable as arrears of land revenue, and such person makes any default in repayment of the loan or advance or any instalment thereof or, having become liable under the conditions of the grant to refund the grant or any portion thereof, makes any default in the refund of such grant or portion or any instalment thereof or otherwise fails to comply with the terms of the agreement ; (d) "financial assistance" means any financial assistance— (1) for establishing, expanding, modernising, renovating or running any industrial undertaking ; or (if) for the purposes of vocational training ; or OM for the development of agriculture, horticulture, animal hus- bandry or agro-industry ; or (Iv) for the purposes of any other kind of planned development ; o r (v) for relief against distress ; (e) "Government company" means a Government company as defined in section 617 of the Companies Act, 1956 ; (.0 "industrial concern" has the meaning assigned to it in the State Financial Corporations Act, 1951. as amended from time to time; (g) "industrial undertaking" includes any undertaking for the mann- facture, preservation, storage or processing orgoods,o r mining, or the hotel industry, or the transport of passengers or goods, or the generation or distribution of electricity or any other form of power, or for the development of any contiguous area of land as an indutrial e,tate. Explanation.—The expression "processing of goods" includes any act or process for producing, preparing or making an article by subjecting any material to a manual, mechanical, chemical, electrical or any other like operation ; (M "State -sponsored scheme" means a scheme poiisored by way of financial assistance by the State Government under which the State Government either— (1) advances money to a Government company for the purposes of disbursing loans, advances or grants or for the purposes of sale of goods on credit or hire-purchase ; or (ii) guarantees or agrees to guarantee the repayment of a loan, advance or grant or the payment of the price of goods sold on credit or hire-purchase. HARYANA GOVT GAZ. (EXTRA.), OCT. 24, 1979 77 (KARTIKA. 2, 1901 SAXA) V a . , M 11•1d . . • • . a • - E a • a