- In this Scheme, unless the context otherwise requires, --(a)"electoral bond" means a bond issued in the nature of promissory note which shall be a bearer banking instrument and shall not carry the name of the buyer or payee;(b)"authorised bank" means the State Bank of India authorised to issue and encash the bonds in the branches specified in Annexure I to this notification;(c)"issuing branch" means a designated branch of the authorised bank specified in Annexure I for issuing electoral bonds;(d)"person" includes-(i)an individual;(ii)a Hindu undivided family;(iii)a company;(iv)a firm;(v)an association of persons or a body of individuals, whether incorporated or not;(vi)every artificial juridical person, not falling within any of the preceding sub-clauses; and(vii)any agency, office or branch owned or controlled by such person.
