In this Act, unless the context otherwise requires,-
(a) "Act" means the Himachal Pradesh Infrastructure Development Act, 2001;
(b) "Board" means the Himachal Pradesh Infrastructure Development Board established under section 3 of this Act;
(c) "Capital" means the Capital for the time being raised or authorised to be raised for the purposes of the Board;
(d) "concession agreement or arrangement" means a contract of the nature specified in Schedule-II between a developer and the Government or a Government agency relating to a project;
(e) "developer" means a person with whom a concession agreement or arrangement is entered into by the Government or a Government agency;
(f) "escrow account" means a bank account in which cash is deposited or from which cash is withdrawn in such manner as specified in the concession agreement or arrangement;
(g) "Financial year" means the period in respect of which any annual accounts of the Board is laid before it, whether that period is a year or not;
(h) "Government or State Government" means Government of Himachal Pradesh;
1. Act came into force from 28 th day of January, 2002 vide Notification No. Fin. IF- (C) 45-1/99, dated 28 th January, 2002, published in the Rajpatra, Himachal Pradesh (Extra-ordinary), dated 28 th January, 2002, pp. 3935-3936.
4 THE HIMACHAL PRADESH INFRASTRUCTURE DEVELOMENT ACT, 2001
(i) "Government agency" means a Government Department or a Corporation or a body owned or controlled by the Government or an authority established by or under any law and includes a local authority;
(j) “infrastructure project” means facilities and services provided by a project, specified in Schedule-I;
(k) "investment" means preliminary and preoperative expenses, capital expenditure, lease on land and equipment, interest during construction, administrative expenses, expenditure on acquisition of an existing infrastructure project owned by the State Government or a Government agency, all operating and maintenance expenses including expenses incurred on recovery of user levies;
(l) "local authority" means a Municipal Corporation, Municipal Council, Nagar Panchayat, Zila Parishad, Panchayat Samiti and Gram Panchayat;
(m) "member" means a member of the Board including Chairman and Chief Executive Officer;
(n) "private sector participant" means any person other than Central Government or State Government or Government Agency or any joint venture between Central Government or State Government Departments or any Statutory Body or Authority or Local Authority or any Corporation or Company in which Central Government or State Government or Government Agency, Statutory Body or Authority or local body is holding not less than 51% paid up share capital;
(o) "private sector participation" means investment by a private sector participant in an infrastructure project of the Government agency or the local authority in the State;
(p) "project" means project specified in Schedule-I;
(q) "regulations" means regulations made by the Board under this Act;
(r) "Schedule" means Schedule appended to this Act;
(s) "Scheduled Bank" shall have the same meaning as assigned to it in clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934);
(t) "seal" means the common seal of the Board;
(u) "special purpose vehicle" means an independent entity set up with the limited special purpose;
(v) "State Government guarantee" means a guarantee given by the State Government to any agency;
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(w) "user charges" means the amount charged for the use of facilities and services provided by the developer; and
(x) "user levies" means the right or authority granted to the developer by the Government agency or the local authority to recover investment and fair return on investment and shall include toll, fee, charge or benefit by any name.
CHAPTER-II ESTABLISHMENT AND CONSTITUTION OF THE BOARD