State Agricultural Credit Corporation Act,1968
Act No : 60
Section :
Definitions.
2. Definitions. In this Act, unless the context otherwise requires,- (a) "agricultural marketing society" means a co-operative society the objects of which include the marketing of agricultural produce; (b) "agricultural operation" includes animal husbandry, dairy farming, pisciculture and poultry farming. Explanation.--The expression "pisciculture" includes the development of fisheries, both inland and marine, catching of fish and all activities connected therewith or incidental thereto; (c) "agricultural processing society" means a co-operative society the objects of which include the processing of agricultural produce; (d) "agricultural produce" includes the produce of an agricultural operation; (e) "appropriate Government" means,- (i) in relation to any Corporation established in a Union territory, the Central Government, and 168 (ii) in relation to any corporation established at any other place, the State Government; (f) "banking company" has the meaning assigned to it in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949); (g) "Board" means the Board of directors of the Corporation; (h) "co-operative farming society" means a co-operative society the objects of which include the cultivation of land on a co-operative basis; (i) "Corporation", in relation to a State or Union territory, means the Agricultural Credit Corporation established under section 3 in that State or Union territory, as the case may be; 1*[(ii)"corresponding new bank" means a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) 2*[or a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980)];] (j) "director" means a member of the Board; (k) "Food Corporation" means the Food Corporation of India established under the Food Corporations Act, 1964 (27 of 1964); (l) "prescribed" means prescribed by rules made under this Act; (m) "Reserve Bank" means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (2 of 1934); (n) "subsidiary banks" has the meaning assigned to it in the State Bank of India (subsidiary Banks) Act, 1959 (38 of 1959); (o) "Central Co-operative Bank", "co-operative Bank", "Co- operative Society", Primary Agricultural Credit Society", "Scheduled Bank", "State Bank" and "State Co- operative Bank", have the meanings respectively assigned to them in section 2 of the Reserve Bank of India Act, 1934 (2 of 1934).
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