Section 2 in Uttarakhand Benami Transactions (Prohibition) Act, 2016
2. Definitions.
- In this Act, unless the context otherwise requires,-(a)"Adjudicating Authority" means the Adjudicating Authority appointed by the State Government in Official Gazette;(b)"Administrator" means the Administrator appointed by the State Government in Official Gazette;(c)"Appellate Tribunal" means the Appellant Tribunal established by the State Government in Official Gazette;(d)"Approving Authority" means the Appellant Authority appointed by the State Government in Official Gazette;(e)"Authority" means an Authority referred to in Section 7;(f)"benami property" means any property which is the subject matter of a benami transaction;(g)"benami transaction" means,-(A)a transaction or arrangement -(a)where a property is transferred to, or is held by, a person for a consideration provided, or paid by, another person; and(b)the property is held for the immediate of future benefit, direct or indirect, of the person providing the consideration, except when the property is held by -(i)a karta, or a member of a Hindu undivided family, as the case may be, and the property is held for his benefit or benefit of other members in the family; or(B)a transaction or arrangement in respect of a property carried out or made in a fictitious name; or(C)a transaction or arrangement in respect of a property where the owner of the property is not aware of, or denies knowledge of such ownership;(ii)a person standing in a fiduciary capacity for the benefit of another person towards whom he stands in such capacity and includes a trustees, executor, partner, agent, director of a company or legal adviser, a depositor or a participant as an agent of a depository under the Depositories Act, 1996 and any other person as may be notified by the State Government for this Purpose;(h)"benamindar" means a person or a fictitious person, as the case may be, in whose name the benami property is transferred or held and includes a name lender;(i)"beneficial owner" means a person, whether his identity is known or not, for whose benefit the benami property is held by a benamidar;(j)"fair market value" in relation to a property, means -(i)the price that the property would ordinarily fetch on sale in the open market on the relevant date; and(ii)where the price referred to in sub-clause (i) is not ascertainable, such price as may be determined in accordance with the rules made under Act;(k)"Initiating Officer" means the Initiating Officer appointed by the State Government Official Gazette;(l)"notification" means a notification published in the Official Gazette and the expression "notified" shall be construed accordingly;(m)"High Court" means -(i)the High Court within the jurisdiction of which the aggrieved party ordinarily resides or carries on business or personally works for gain; and(ii)where the Government is the aggrieved party, the High Court within the jurisdiction of which the respondent, or in a case where there are more than one respondent, any of the respondent, ordinarily resides or carries on business or personally works for gain;(n)"person" includes -(i)an individual;(ii)a Hindu undivided family;(iii)a company;(iv)a firm (including a limited liability partnership under the Limited Liability Partnership Act 2008);(v)an association of persons or a body of individuals, whether incorporated or not;(vi)every artificial judicial person, not falling within any of the preceding sub-clauses.Explanation. - For the purposes of this clause, an association of persons or a body of individuals or an artificial juridical person shall be deemed to be a person, whether or not such person or body or artificial juridical person was formed or established or incorporated with the object of deriving income, profits or gain;(o)"prescribed" means prescribed by rules made under this Act;(p)"property" means property of any kind, whether movable or immovable, tangible or intangible, and includes any right or interest in such property and where the property is capable of conversion into some other form, then the property in such converted form;(q)"Special Court" means a Court of Magistrate designed as Special COurt under sub-section (1) of Section 26.
