(i) Large-scale industry meaning an industry the capital outlay of which on land, building, installed machinery, railway siding or other fixed assets exceeds rupees ten lakhs;
(ii) medium-scale industry meaning an industry the capital outlay of which on land, building, installed machinery, railway siding or other fixed assets exceeds rupees 3(two) five lakhs does not exceed rupees ten lakhs;
(iii) small-scale industry meaning an industry other than a large scale industry or medium scale industry.
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CHAPTER II GENERAL PROVISIONS REGARDING THE GIVING OF STATE AID [4.Consitution of State Aid to Industries Committee:- (1) There shall be constituted a State Aid to Industries Committee consisting of the following members, namely:-
(a) the Minister for Commerce and Industry who shall be the Chairman of the Committee;
(b) the Deputy Minister for Commerce and Industry;
(c) five members of the State Legislative Assembly to be elected by the Assembly;
(d) the Director of Industries;
(e) the Managing Director of the Financial Corporation of the State;
(f) Not more than three officers to be appointed by the State Government by virtue of office;
3(g) ten members to be appointed by the State Government, of whom at least one shall represent each class of the industrial specified in section 3 and the remaining shall represent other industrial, commercial and allied interests:]
Provided that for any meeting of the Committee the Chairman may invite any person for advising the Committee on any matter in question before the meeting but the person so invited shall have no vote.
2) The election or appointment of members under clauses (c), (f) and (g) of subsection (1) shall be notified and such members shall enter upon their offices from the date of such notification.
3) The Director of Industries shall be ex officio Secretary to the Committee.]
5, Term of office:- (1) The members of the Committee elected under clause (c) of sub-section (1) of section 4 shall hold office for a term of three years or till such time as they continue to be members of the Legislative Assembly, whichever is earlier.
(2) The members of the committee appointed under clause (g) of sub-section (1) of section 4 shall hold office for a term of one year.
(3) Notwithstanding anything contained in this section, an outgoing member shall, unless the State Government otherwise directs, continue in office till the date the election or appointment of his successor is notified under sub-section (2) of section 4.
(4) An outgoing member shall be eligible for re-election or re-appointment]
6. Cessation of membership- Notwithstanding anything contained in section 5, if before the expiry of his terms any member elected under clause 3(c) of sub-section (1) of section 4 ceases to be member of the Legislative Assembly, he shall forthwith cease to be a member of the Committee.