Rehabilitation Finance Administration Act,1948
Act No : 12
Section :
Definitions.
2. Definitions. In this Act, unless there is anything repugnant in the subject or context.-- (a) "Act" means the Rehabilitation Finance Administration Act, 1948; (b) "Administration" means the Rehabilitation Fiance Administration constituted under this Act; (c) "borrower" means an individual, company, association or body of individuals, whether incorporated or not, to whom a loan has been advanced under this Act; (d) "displaced person" means-- (i) a person who, being displaced from any area 3*[now forming part of Pakistan] on account of civil disturbances or fear of such disturbances, has settled and is engaged or intends to engage in any business or industry in India, or (ii) a person in India who, having had his business, industry or property, wholly or partially 3*[in any area ------------------------------------------------------------------ 1. Subs. by Act 1 of 1950, s. 2, for the former sub-section (2). 2. 1st June, 1948, see Gazette of India, Extraordinary, p. 735. 3. Subs. by Act 1 of 1950, s. 3, for "outside India." 4 now forming part of Pakistan], has lost, wholly or partially, such business, industry, or property on account of civil disturbances or the fear of such disturbances, and who is engaged, or intends to engage in any business or industry in India; 1*[(e) 'loan' means a sum of money advanced by the Administration-- (i) to a displaced person for the purpose of any business or industry in which he is engaged or intends to engage himself, or (ii) in respect of any business or industry, a substantial portion of which is owned by displaced persons; and] (f) 'prescribed' means prescribed by rules made under section 23 or regulations made under section 24.
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