Section 2 in Registration and Licensing of Industrial Undertakings Rules, 1952
2. Definitions.
- In these rules, unless there is anything repugnant in the subject or context,(i)"the Act" means the Industries (Development and Regulation) Act, 1951 (LXV of 1951);(ii)"effective steps" shall mean one or more of the following:(a)[ that 60 per cent or more of the capital issued for an industrial undertaking which is a public company within the meaning of the Indian Companies Act, 1913 (VII of 1913), has been paid up;] [Substitued by S.R.O. 1856, dated 1st October, 1953](b)that a substantial part of the factory building has been constructed;(c)that a firm order has been placed for a substantial part of the plant and machinery required for the undertaking.
