Punjab Scheduled Castes Land Development and Finance Corporation Act, 1970

No: 9 Dated: Sep, 16 1970

The Punjab Scheduled Castes Land Development and Finance Corporation Act, 1970

(Punjab Act 9 of 1970)

    An Act to provide for the establishment of the Punjab Scheduled Castes Land Development and Finance Corporation.

    Be it enacted by the Legislature of the State of Punjab in the Twenty-first Year of the Republic of India as follows :-

CHAPTER I

Preliminary

1. Short title. This Act may be called the Punjab Scheduled Castes Land Development and Finance Corporation Act, 1970.

2. Definitions. - In this Act, unless there is anything repugnant in the subject or context,

(a) "Agricultural development" includes development of dairy, poultry, piggery, sheep and cattle breeding, pisciculture and sericulture;

(b) "Board" means the Board of directors of the Corporation;

(c) "Chairman" means the Chairman of the Corporation;

(d) "Corporation" means the Punjab Scheduled Castes Land Development and Finance Corporation;

(e) 'director' means a director of the Board and includes the Chairman and the Vice-Chairman;

(f) "Governor" means the Governor of the State of Punjab;

(g) "marketing" means all activities relating to the transport, grading, pooling, marketing and sale or agricultural or industrial produce, whether in the preliminary form or in semi-processed or processed form;

(h) "prescribed" means prescribed by rules made under this Act;

(i) "Processing" means all activities relating to the processing of agricultural produce so as to make it marketable or fit for consumption and includes purchase and storage of raw-material, purchase of equipment, and purchase, installation and running of machinery, required for processing and storage of finished produce;

(j) "Scheduled Castes" means such castes, races or tribes or parts of or groups within such castes, races or tribes as are deemed under Article 341 of the Constitution of India to be Scheduled Castes;

(k) "Scheduled Castes Organisation" means a firm registered under the Partnership Act, 1932, an association registered under the Societies Registration Act, 1860, or a co-operative society registered under the Punjab Co-operative Societies Act, 1961, all the partners or members, whereof, as the case may be, belong to Scheduled Castes;

(l) "small-scale industry" means all cottage and small-scale industry including industry engaged in fabrication, repairs and maintenance of agricultural machinery and equipment, in which capital investment does not exceed five lacs of rupees;

(m) "supply and storage" means supply and storage of agricultural inputs and establishment, maintenance and running of storages, cold storages and warehouses ; and

(n) "Vice-Chairman" means the Vice-Chairman of the Corporation.

CHAPTER II

Incorporation of Punjab Scheduled Castes Land Development and Finance Corporation and its Capital

3. Establishment of Punjab Scheduled Castes Land Development and Finance Corporation. - (1) With effect from such date as the State Government may, by notification, specify in this behalf, the State Government may establish for the purpose of this Act a corporation known as the Punjab Scheduled Castes Land Development and Finance Corporation.

(2) The Corporation shall be a body corporate with the name aforesaid having perpetual succession and a common seal with powers, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract, and may, by that name, sue or be sued.

4. Head office of Corporation. - (1) The head office of the Corporation shall be at Chandigarh or at such other place as the State Government may, by notification, specify.

(2) The Corporation may establish offices or agencies at such places within or outside the State as it may think fit.