Section 2 in THE ANDHRA PRADESH STATE DEVELOPMENT CORPORATION ACT, 2020
2. of September 2020.
Definitions - In this Act, unless the context otherwise requires,-(1)‘Accounts’ means as defined under Indian Accounting Standards or Indian Generally Accepted Accounting Principles issued from time to time;(2)‘Act’ means the Andhra Pradesh State Development Corporation Act, 2020;(3)‘Board’ means the Board of Directors of the Corporation;(4)‘Chairman’ means an executive elected by a company's board of directors who is responsible for presiding over board or committee meetings;(5)‘Corporation’ means the ANDHRA PRADESH STATE DEVELOPMENT CORPORATION LIMITED (APSDC) constituted under section3(1) of this Act;(6)‘Government’ means the Government of Andhra Pradesh;(7)‘Member’ means Shareholder as defined in Companies Act, 2013(Central Act No.18 of 2013);(8)‘Prescribed’ means prescribed by rules, regulations and/or standing orders made under this Act;(9)‘Rule’ means a rule made under this Act by Government and laid before the State Legislature;(10)‘Social and Economic Development’ with its grammatical variations means and includes provision of basic amenities like Quality Education, Reliable Healthcare, Clean Water & Sanitation, Farmer Welfare, Women Empowerment, Housing for Poor, Rural Development, Poverty Eradication and to undertake various economic and social development projects& activities in the State of Andhra Pradesh;(11)‘State’ means the State of Andhra Pradesh;(12)‘Vice Chairman & Managing Director’ means Vice-Chairman & Managing Director of Andhra Pradesh State Development Corporation Limited and appointed vide G.O.MS.No.80, of Finance (PMU-CASPS, FC&IF) Department, dated 27.08.2020.
