Section 2 in The West Bengal Employment Scheme Loans (Recovery) Act, 1976
2. Definitions. -
In this Act, unless there is anything repugnant in the subject or context,-(a)"Additional Employment Programme" means a programme of the State Government to provide self employment opportunities to educated unemployed persons in West Bengal by assisting them to develop bankable projects and by supporting the projects by advancing margin money loans ;(b)"bank" means and includes-(i)a 'bank' included in the Second Schedule to the Reserve Bank of India Act, 1934,(ii)the 'State Bank of India' constituted under the State Bank of India Act, 1955,(iii)a 'subsidiary bank' as defined in the State Bank of India (Subsidiary Banks) Act, 1959,(iv)a 'corresponding new bank' as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970,(v)a 'co-operative bank' as defined in the Reserve Bank of India Act, 1934;(c)"Certificate Officer" has the same meaning as in clause (3) of section 3 of the Bengal Public Demands Recovery Act, 1913;(d)"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, 1973, to whom financial assistance has been given by the State Government and by a bank or a financial institution in terms of a scheme and includes the legal heirs, executors, administrators, representatives and assignees of such person or persons or partnership firm or limited company or co-operative society, as the case may be;(e)"financial institution" means-(i)a company or a body corporate 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,which is 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;(f)"margin money loan" means a loan advanced by the State Government under a scheme to an entrepreneur to meet the whole or a part of the initial investment to be made by him for obtaining the financial assistance from a bank or a financial institution for any project under the Additional Employment Programme;(g)"prescribed" means prescribed by rules made under this Act;(h)"scheme" means a scheme framed by the State Government under its Additional Employment Programme for providing employment to unemployed educated persons in West Bengal under which such persons shall arrange to secure an advance from a bank or any other financial institution representing up to ninety per cent, of the total amount required for any project under the said Programme;(i)"term loan" means a loan advanced by a bank or a financial institution to an entrepreneur against the block capital or fixed assets of the activities under a scheme.
