(1) In this Act, unless the context otherwise requires,"
(i) "appointed day" means the date on which this Act came into force;
(ii) "Banks" means:-
(a) a banking company within the meaning of the Banking Regulation Act, 1949 or a corresponding hew bank constituted under section 3 of the Banking Companies (Acquisition and * Published vide Orissa Act 4 of 1986 The Odisha Gazette EXTRAORDINARY PUBLISHED BY AUTHORITY No. Date : 12th March 1986 Short title and commencement.
Definitions.
10 of 1949 2 Transfer of undertakings) Act, 1970.
(b) any other bank being a scheduled bank as defined in clause
(e) of section 2 of the Reserve Bank of India Act, 1934.
(iii) "Commission" means the Commission of Assessment appointed under sub-section (I) of section 13;
(iv) "Commissioner" means the Commissioner of Payments appointed under sub-section (1) of section 15;
(v) "Corporation" means the Orisja State Textile Corporation Limited, Cuttack formed and registered under the Companies Act, 1956;
(vi) "owner" means Bhaskar Textile Mills Limited, Jharsuguda in the district of Sambalpur having its registered office at 2, Biplabi Trailokya Maharaj Sarani, Calcutta and includes any agent or manager of such owner, the lessee or occupier of toe said Mills or part thereof and the receiver or liquidator, if any, appointed by any court of the country;
(vii) "prescribed" means prescribed by rules made under this Act;
(viii) "specified date" means such date as the Slate Government may, for the purpose" of this Act, by notification, specify and different dates may be specified for different provisions of this Act;
(ix) "textile"' includes yarn made either wholly or partly of cotton, wool, jute, synthetic and artificial (man-made) fibres;
(x) "textile company" means Bhaskar Textile Mills Limited, Jharsuguda in the district of Sajnbalput having/its registered office at2, Biplabi Trailokya Maharaj Sarani, Calcutta;
(xi) "textile, undertaking" means the Bhaskar Textile Mills located at Jharsuguda in the district of Sanibalpur.
(2) Words and expressions used but not defined in this Act and defined in the Industries (Development and Regulation) Act, 1951 shall have the meaning respectively assigned to them in the Act.
(3) Words and expressions used but, not defined in this Actor in the Industries (Development and Regulation) Act, 1951 but defined in the Companies Act, 1956 shall have the meaning respectively-assigned to them in the Companies Act, 1956.
CHAPTER II ACQUISITION OF RIGHTS OF THE OWNER OF THE TEXTILE UNDERTAKING