(13 The ;State ~Meriltnent shall ~~omtituteta consliturloa Board of Iadus tries consisting of -.the .fdltawing or Board or members, namely: - Industries.
-to) five Wrnbers:to be-eleaed.dn rtlie paso* -bed 'manner -by ~~e State kegisl'mbve .Assembly 4rom ,ainarzg its m e m b e ~ :
-Provide& that "in f he case or dissolu.tion lof .the State LegisIative Assembly, the members . elected under >this, -clause rand Qoldmg office-on d h dde of such -dissolution s h d poontinue in omee \till ?hew members a$e elected !by bhe said ,Assembly af&r ?its reconstitution;
.(b) 'fivc:fietnberQ to be .ileeted ~ i h 'the prescribed manner, one ,by .eadh .df 'five such associations or ather bodies as :the .State ,'Goverfime~t may sdect as &,st represent- 'iag any garticukr class of hdustries ar comn~ercial aad allied interests;
~ [ c ) Seeref a r i s to the'state ' ~ o v e m i'a Fidahce, Ifrigdm 'md 'Pbmr 3t1d 'fXle Induseies Depafitmen ts, , the Director, the Resistray of' 'Co-operative Soii i t ie , b e Managing Director of the 'StateAFin&cial Cor,poration and tho ,Managing Wector -of .the :State Small ,Sc& :Zadusfl.ks Qm- . porafion ~11.0 .shall be gx-~ficjo -m&q&rs;
and
(8) .five members to b e *appdin{ed by Qe State -'Govemmmt af whoi-i~ at lcast .two shaU 'be 'from 'wc]~ a m s OF the State a e decla- 'red, from time to 'time, by ~e G0ver.nment of India to be industrially backward areas.
j(2) The Cfiairrnan ' a d the 'Secretary of ,he . h a d :&%all 'be 'appoirlted %y fhe 'State 'Govern-rn from among the members of the Board.
888 THE . . ORISSA STATE-AID TO INDUSTRIES ACT, I 978 [ Or. Act
(3) The names of the members who have bzen elected or appointed shall be published in the Oflicial Gazette.
(4) Savc as otherrvisc provided in this Act, a member clcctcd under clause (8 ) of su b-section (1) or appointed u n d d clause (d) of that sub-section shall hoId office for a period of three years commencing from the dace of publication of his name in the Official Gazette:
Provided that the State Government may, from time to time, by notification, extend the said term of office by such period not exceeding one year at a time, as may be spccificd in the notification, so, however, tl~at: tho total period of extension shall in no evcnt cxceed two years.
(5 ) Any casual vacancy in the membership of the Board shall he filled up by election or, as the case may be, appointment in tho same mt?mer as is provided in sub-section ( I ) and the member so elected or appointed shall hold office for the unexpired term of his predecessor in office.
(6) The Board shall, for the discussion of any particular question coming up for consideration before it, have power to co-opt experts specially qualged to advise on the matter in question or having spec~al knowledge of local conditions in any area where the industry in queslion is situate:
Provided that a member so co-opted shall have no right to vote.
(7) N o member of the Board shall vote or take part in the discussion of any question coming up for consideration at a meeting of the Board if the question is one in which he or his partner or reiatives have any direct or indirect pecuniary interest or in which he is interested protessionalty on behalf of a client or as agent for any person other than t l ~ e State Government, the Central Government or a TocaI authority.
Expla~lation --For the purposes of this section, the expression '' relative " shall have the same mean- - - - -- ing asaasiigned to it under section 6 offhe CompaniesI orlpjb Act, 1956.
(8) Whenever the Secretary to Government in the Finance Department is unable to attend any meeting of the Board, he may nominate any oEccr of that Depai-tmsnt, who shall attend such meeting and shall have the same rights and privileges as the said Secretary has in respect of such meeting.
(9) No act or proceedings of the Board shall be deemcd to be invalid merely by reason of the existence of any vacancy in the Board.
4. Stateaid may Be given in all or any of theFormiof following forms:- Stataaid
(a) the grant of a loan;
(b) the giving of a guarantee in respect of a loan, cash credit, over-draft or h e d advance with a Scheduled Bank, Life Tnsurance Cor oration, Co-operative Socicty, K or with t e Industrial Financial Corporation of India, the Orissa Sfslte Financial Corporation or such other Industrial Financing Agency as may be approved by the State Government;
(c) the ,taking of shares or debentures;
(4 the guarantee of a minimum return on the whole or part of the capit,tiI of a joint stock company fdr a period fixed in accordance with the rules made under this Act;
,fe) tbe underwriting of the issue of stocks, shares, bends or debentures By a limited j o k t stock company;
(f) the grant on favourable terms, .of InQd, raw mdte~ial, fuel, Water or any ojher property or right vested in the State Government subject t o the provision of any law, rule or order for the timc being in force;
( g ) the phyment of subsidy- ( 1 ) in the case of Small-scalo or Cottage Iildustry, for one or more of the following purposes, namely: - ti) the durchase of land, machinery and equipment ;
(ii) the construction of factory buildings, mgodowris, wells and sheds;
(112-73 (a) Law)
(iii) technical improvement to the machinery used in the industry;
( iv) the employment of eEcient Manager nnd Supervisory personnel for a limited period;
( Y ) the training of workers employed in the industry;
(pi) the conduce of research; or
(vii) m y other purpose as tho State Government may, by notification, specify;
(2) in the case of any other industry, for the conduct o f res~arch or purchase af machinery or for any other purpose as tho State Government may, by notification, specify;
(Ti) the supply of machinery on the hire purchase system including the guarantee of thc price of the machinery and equipment purchased by any industry on hire purchase agreement from the Nationa:
Small-scale Industries Corporation or any other concern approved by the Sta'is Government;
([I the suppIy of eIectrica1 energy at coilcc:
sionaI rates from a source which is tha property of the Statc Governmenl or the grant of subsidy or rebate on the sata (including mini m u charges) payable by any industry for supply of electricity t o it;
( j ) the lending of sorvices of experis or persons in the service of the Govermont for starting or advising an industry free of charge or on favourable terms; and
(k) to any individual, by the grant of a Ioaa for the purpose of investment in the share capital of any Co-operative Sodety or any joint stock company within the rncxing of the Companies Act, 1956 1 1996.
cngaged in any industry or for purchase ,uf share held by Government in any Gc~:e:nment company, within tho meaning of tiie mid Act engaged in any indust.ry.
5. Subject to such conditions or restrictions as :;i;t:;;o it may deem fit to impose the State Government may, ,iw ,aa;n orms of by norification, from time to time, delegate f Srate-ald its power to give State-aid in one or more of the forms spccificd in clauses (a), (b), ( g ) and ( h ) of section 4 in favour of such authorities, not being below the rank of a District Industries Officer, as may be speceified in the notification.