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The Bangladesh Small and Cottage Industries Corporation Act, 1957

( ACT NO. XVII OF 1957 )

Interpretation

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

 
 
 
 

(a) “Board” means the Board of Directors of the Corporation;

 
 

(b) “borrower” means any person or persons or body of persons, whether incorporated or not, to whom a loan is made by the Corporation under this Act and the successors and assignees of such person or persons;

 
 
 
 

1[(bb) 'Chairman' means the Chairman of the Board;]

 
 
 
 

(c) “Corporation” means the Small and Cottage Industries Corporation established by this Act;

 
 
 
 

2[(cc) “cottage industry” means an Industry which is carried on primarily with the help of the members of a family either as a whole time or part time occupation and the total investment of which does not exceed such amount as the Government may, by notification in the official Gazette, fix but shall not include a factory under the Factories Act, 1965 (E. P. Act IV of 1965);]

 
 
 
 

3[* * *]

 
 
 
 

4[(dd) 'Director' means the Director of the Board;]

 
 
 
 

(e) “prescribed” means prescribed by the rules or regulations made under this Act;

 
 
 
 

(f) “scheduled bank” means a bank for the time being included in the list of banks maintained under 5[clause (1) of Article 37 of the Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972).]

 
 

6[(g) 'small industry' means an industrial unit which is a factory as defined in clause (f) of section 2 of the Factories Act, 1965 (E.P. Act IV of 1965), and the total investment in fixed assets 7[excluding] value of land of which does not exceed such amount as the Government may, by notification in the official Gazette, fix and such notification may be given retrospective effect;]

 
 
 
 

8[* * *] and

 
 
 
 

(i) “subsidiary corporation” means a corporation sponsored by the Small and Cottage Industries Corporation for the furtherance of its objectives, but operating in a specified area or areas or in respect of one or more specified industry.


  • 1
    Clause (bb) was inserted by section 2 of the East Pakistan Small Industries Corporation (Second Amendment) Ordinance, 1970 (East Pakistan Ordinance No. XVII of 1970)
  • 2
    Clause (cc) was substituted by section 2 of the Bangladesh Small and Cottage Industries Corporation (Amendment) Act, 1990 (Act No. LVII of 1990)
  • 3
    Clause (d) was omitted by section 4 of the Bangladesh Small and Cottage Industries Corporation (Amendment) Act, 1975 (Act No. XXIII of 1975)
  • 4
    Clause (dd) was inserted by section 2 of the East Pakistan Small Industries Corporation (Second Amendment) Ordinance, 1970 (East Pakistan Ordinance No. XVII of 1970)
  • 5
    The words, brackets, figures and comma “clause (1) of Article 37 of the Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972)” were substituted for the words, brackets, figures and comma “sub-section (1) of section 37 of the State Bank of Pakistan Act, 1956” by section 4 of the Bangladesh Small Industries Corporation (Amendment) Ordinance, 1976 (Ordinance No. XXXIV of 1976)
  • 6
    Clause (g) was substituted by section 4 of the Bangladesh Small and Cottage Industries Corporation (Amendment) Act, 1975 (Act No. XXIII of 1975)
  • 7
    The word “excluding” was substituted for the word “including” by section 2 of the Bangladesh Small and Cottage Industries Corporation (Amendment) Act, 1990 (Act No. LVII of 1990)
  • 8
    Clause (h) was omitted by section 4 of the Bangladesh Small Industries Corporation (Amendment) Ordinance, 1976 (Ordinance No. XXXIV of 1976)
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Ministry of Law, Justice and Parliamentary Affairs