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[Section Index]
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);]
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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;]
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(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.