Amendment status not verified — confirm the current text below against the official source.
Definitions.—In this Act, unless the context otherwise requires,— (a) ‘Board’ means the Kerala Infrastructure Investment Fund Board constituted under section 4; *(aa) “concessionaire” means the private sector participant which has entered into a public-private partnership; (ab) “concession agreement” means an agreement entered into between a public agency and a private sector participant for and in respect of a public- private partnership; (ac) “detailed project study” means a detailed study of the project made after the preliminary decision for investment, in order to ascertain the capital cost, technological parameters, description of the technology to be used, technical specifications, plan schedule to assist the financial investment, plan for implementation of the project and such other information as may be specified in the Scheme; (ad) “Executive Committee” means the committee constituted under section 6B; * Inserted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016 (ae) “feasibility study” means a preliminary study to assess the technical and financial viability and to assess the social and environmental impact of a project for making a decision for investment which shall include the demand for services, appropriate technology to be adopted, capital cost, time required for implementation and such other information as may be specified in the Scheme.” (b) ‘Financial assistance’ means the types of assistance specified in the Scheme; (c) ‘Fund’ means the Kerala Infrastructure Investment Fund established under section 3 and the scheme; (d) ‘Fund Manager’ means the Fund Manager of the Board; (e) ‘Government’ means the Government of Kerala; *(ea) “Government Company” means any company in which not less than fifty one per cent of the paid-up share capital is held by the Government or Central Government or other State Governments and includes a company which is a subsidiary of any Government Company; (eb) “Infrastructure” means the assets or services in any one or more of the sectors specified in the Second Schedule”; **(f) ‘Infrastructure projects’ include projects in the sectors specified in the second Schedule and multipurpose projects comprising of one or more of the sectors specified therein”; (g) ‘Local Self Government Institution’ means a Panchayat at any level constituted under the Kerala Panchayat Raj Act, 1994 (13 of 1994), or a Municipality constituted under the Kerala Municipality Act, 1994 (20 of 1994); (h) ‘Other undertakings’ means Public Companies established in the State under the Companies Act, 1956 (Central Act 1 of 1956) in joint sector, where the investment of the Government is not less than *# twenty six percent of the total paid up share capital, or societies established under Travancore-Cochin Literacy, Scientific and Charitable Societies Registration Act, 1955 (XII of 1955) or the Societies Registration Act, 1860 (Central Act 21 of 1860) and where Government, Local Self Government Institutions of any Public Sector Undertaking, as the case may be, have not less than *@ twenty six per cent of interest in its assets, ownership and management; * Inserted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016 ** Substituted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016 *# Vide Amendment Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016 the words “forty per cent” substituted with “twenty six per cent”. *@ Vide Amendment Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016 the words “fifty per cent” substituted with “twenty six per cent”. (i) ‘Public Sector Undertakings’ means any Government Company established in the State under the Companies Act, 1956 (Central Act 1 of 1956) or a Co-operative Society registered or deemed to have been registered under the Kerala Co-operative Societies Act, 1969 (21 of 1969) where the Government holds not less than *fifty one per cent of the share capital, and substantial control over its management and includes public undertakings established under a statute; **(ia) “private sector participant” means any person or entity other than a public agency or the Central Government or a public sector undertaking of the Central Government; (ib) “project” means an Infrastructure Projects and includes both physical and social Infrastructure projects; Explanation:- For the purpose of this clause ‘physical infrastructure projects’ means projects primarily intended for creation of tangible assets and ‘social infrastructure projects’ means intangible social assets such as schools, social services etc. (ic)“public-private partnership” means an arrangement between a public agency and a private sector participant for providing infrastructure which includes investment, design, development, construction, maintenance or operation undertaken by the private sector participant, where in risks a reallocated between them such that the private sector participant takes the risks beyond the stage of design, construction and the payment for the services are performance linked, in the form of user charges, annuities or unitary payment; (id)"public agency" means any department of the Government or the Central Government or other State Governments or public sector undertaking, Government Company, statutory board formed by the Government or the Central Government or other State Governments, Local Self Government Institutions, co-operative institution, university, any society or trust formed, owned or controlled by the Government or the Central Government or other State Governments"; (j) ‘Schedule’ means the Schedule to this Act; (k) ‘Scheme’ means the scheme framed under this Act; *#(ka)"Special Purpose Vehicle" means the Public Agency, Public Sector Undertaking or Public-Private Partnership formed for executing any work financed by the Board; (kb) ‘sponsoring agency’ means the public agency designated by the Board to implement a project through public-private partnership”; * Substituted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016. ** Inserted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016. *# Inserted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016. (l) ‘State’ means the State of Kerala; *(la) "State support" means the support extended by the Government to a concessionaire, which may include, - (i) subsidy or capital grant not exceeding such proportion of the cost of the project, as may be specified in the scheme; (ii) equity; (iii) loans; (iv) guarantee by the Government; (v) opening and operation of escrow account: (vi) conferment of right to develop any land; (vii) incentives in the form of exemption from the payment of, or deferred payment of, any tax or "fees levied under any law or such other incentives, as may be specified, in the Scheme." (m) ‘Undertakings’ means public sector undertakings or other undertakings, **(ma) "user levy" means user charge or fee or any other amount, by what ever name be called, payable by the user of an infrastructure facility.". (n) ‘Year’ means the financial year,