Section 2 in The West Bengal Employment Scheme Loans (Recovery) Act, 1992
2. Definitions. -
In this Act, unless there is anything repugnant in the subject or context,-(a)"bank" means and includes-(i)a "bank" nationalised by the Government of India and a "bank" included in the Second Schedule to the Reserve Bank of India Act, 1934,(ii)a "co-operative bank" as defined in the Reserve Bank of India Act, 1934,(iii)a "corresponding new bank" as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970,(iv)the State Bank of India, constituted under the State Bank of India Act, 1955,(v)a "subsidiary bank" as defined in the State Bank of India (Subsidiary Banks) Act, 1959;(b)"Certificate-officer" has the same meaning as in clause (3) of section 3 of the Bengal Public Demands Recovery Act, 1913;(c)"composite loan" means a loan advanced by a bank or a financial institution to an entrepreneur against the block capital or working capital required for activities under a scheme;(d)"employment programme" means programmes variously described as Additional Employment Programme, Self Employment Scheme for the Registered Unemployed in West Bengal (SESRU), 1985 or any other scheme of the State Government as may be specified by the State Government by notification in the Official Gazette from time to time to provide opportunities to unemployed persons in West Bengal by assisting them to undertake bankable projects and by supporting the projects by advancing margin money assistance by way of loans or grants;(e)"entrepreneur" means a person or a group of persons or a partnership firm or a limited company, either private or public, or a co-operative society registered under the West Bengal Cooperative Societies Act, 1983, to whom financial assistance has been given by the State Government in the form of margin money as a loan or grant and by a bank or a financial institution in terms of the employment programme for providing employment to unemployed persons and includes the legal heirs, executors, administrators, representatives and assignees of such person or group of such persons or partnership firm or limited company or co-operative society, as the case may be;(f)"financial institution" means-(i)a company or a body corporate or a public financial institution as defined in the Companies Act, 1956, or(ii)a financial corporation, or(iii)a society registered under the West Bengal Societies Registration Act, 1961, or(iv)a Co-operative Land Development Bank as defined in the West Bengal Co-operative Societies Act, 1983, which engaged in financing activities and has been constituted by any law for the time being in force and which is either owned by, or in which the majority shares are held by, the State Government;(g)"margin money" means a loan or grant advanced by the State Government under a scheme to an entrepreneur to meet a part of the initial investment to be made by him for obtaining further financial assistance from a bank or a financial institution for any project for generating employment;(h)"prescribed" means prescribed by rules made under this Act;(i)"scheme" means a scheme framed by the State Government under any employment programme for providing employment to unemployed persons in West Bengal under which such persons shall arrange to secure an advance from a bank or any other financial institution;(j)"term loan" means a loan advanced by a bank or a financial institution to an entrepreneur against the block capital of fixed assets of the activities under a scheme.
