Section 2 in The Manipur Ceiling On Government Guarantees Act, 2004
2. Definition.
- In this Act, unless the context otherwise requires,-(a)"default risk" means the probability of default by the borrower on whose behalf the Government Guarantees is given depending on the amount borrowed, the type of industry and the economic situations.(b)"Government" means the Government of Manipur.(c)"Government Guarantee" includes the guarantee given by the State Government on behalf of Departmental undertakings local authorities statutory boards, corporations and co-operative institutions;(d)"notification" means a notification published in the Official Gazette;
