National Co-operative Development Corporation Act,1962
Act No : 26
Section :
Definitions.
2. Definitions. In this Act, unless the context otherwise requires,-- (a) "agricultural produce" 4***[includes the following] classes of commodities, namely:-- (i) 5* edible oil-seeds; (ii) cattle fodder, including oil-cakes and other concentrates; (iii) raw cotton, whether ginned or unginned and cotton seed; (iv) raw jute; and (v) vegetable oils; --------------------------------------------------------------------- 1 Subs. by Act 3 of 1974, s. 2, for the long title (w.e.f. 1-4- 1974.) 2 Omitted by Act 32 of 1973, s. 2. 3 14th March 1963; vide Notification No. G.S.R. 456, dated 14-3- 1963, see Gazette of India, Extraordinary, Pt. II, Sec. 3(i), p. 149. Extended to Sikkim (w.e.f. 26-8-1975) vide S. O. 452(E), dated 26-8-1975. Brought into force in Sikkim (w.e.f. 1-10-1975) vide S. O. 4293, dated 22-9-1975. 4 Subs. by Act 3 of 1974, s. 3, for "means any of the following" (w.e.f. 7-4-1975). 5 The words "foodstuffs, including" omitted by s. 3, ibid (w.e.f. 7-4-1975). 78 1*[(aa) "bank" means a nationalised bank and includes a scheduled bank;] 2*[(ab) "Board" means the Board of Management of the Corporation constituted under section 10;] (b) "Central Warehousing Corporation" means the Central Warehousing Corporation established under section 17 of the Agricultural Produce (Development and Warehousing) Corporations Act, 1956 (28 of 1956); (c) "co-operative society" means a society registered or deemed to be registered under the Co-operative Societies Act, 1912 (2 of 1912) or under any other law with respect to co-operative societies for the time being in force in any State, which is engaged in any of the activities specified in sub-section (1) of section 9 and includes a co-operative land mortgage bank; (d) "Corporation" means the National Co-operative Development Corporation established under 3*[sub- section (1) of section 3]; 1*[(da) "foodstuffs", include-- (i) coconuts and areca-nuts; (ii) eggs and egg products; (iii) fish, whether fresh, frozen, dried or preserved; (iv) fruits, whether fresh, dried or dehydrated; (v) honey; (vi) meat, whether fresh, frozen, dried or preserved; (vii) milk and milk products; (viii) vegetables;] 2*[(db) "General Council" means the General Council of the Corporation constituted under sub-section (4) of section 3;] 3*[(dc) "Managing director" means the managing director of the Corporation; (dd) "nationalised bank" means a corresponding new bank as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; (5 of 1970)] --------------------------------------------------------------------- 1 Ins. by Act 3 of 1974, s. 3 (w.e.f. 7-4-1975). 2 Ins. by s. 3, ibid. (w.e.f. 1-4-1979). 3 Subs. by s. 3, ibid., for "section 3" (w.e.f. 1-4-1974). 79 (e) "notified commodity" means any commodity (other than agricultural produce 1*[and foodstuffs]) which the Central Government may, by notification in the Official Gazette, declare to be a notified commodity for the purposes of this Act, being a commodity with respect to which Parliament has power to make laws by virtue of entry 33 in List III in the Seventh Schedule to the Constitution; (f) "prescribed" means prescribed by rules made under this Act; (g) "Reserve Bank" means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (2 of 1934); 1*[(ga) "scheduled bank" means a bank for the time being included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934.);] (h) "State Bank" means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955.); (i) "year" means the financial year.
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