Section 2 in The Security Interest (Enforcement) Rules, 2002
2. Definitions.
- In these rules, unless the context otherwise requires,-(a)"authorized officer" means an officer not less than a chief manager of a public sector bank or equivalent, as specified by the Board of Directors of Board of Trustees of the secured creditor or any other person or authority exercising powers of superintendence, direction and control of the business or affairs of the secured creditor, as the case may be, to exercise the rights of a secured creditor under the [Act] [ Substituted by S.O. 103(E), dated 2.2.2007, for " Ordinance" (w.e.f. 2.2.2007).];(b)demand notice means the notice in writing issued by a secured creditor or authorized officer, as the case may be, to any borrower pursuant to sub-section (2) of section 13 of the [Act] [ Substituted by S.O. 103(E), dated 2.2.2007, for " Ordinance" (w.e.f. 2.2.2007).];(c)[ "Act" means the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002);] [ Substituted by S.O. 103(E), dated 2.2.2007, for Clause (c)(w.e.f. 2.2.2007).](d)"approved valuer" means a valuer as approved by the Board of Directors or Board of Trustees of the secured creditor, as the case may be;(e)Words and expressions used and not defined in these rules but defined in the [Act] [ Substituted by S.O. 103(E), dated 2.2.2007, for " Ordinance" (w.e.f. 2.2.2007).] shall have the meanings respectively assigned to them in the [Act] [ Substituted by S.O. 103(E), dated 2.2.2007, for " Ordinance" (w.e.f. 2.2.2007).].
