(1) In these rules, unless the context otherwise requires,-
(a) 'Act' means the Punjab Management and Transfer of Municipal Properties Act, 2020;
(b) “allottee” means the person to whom property is allotted;
(c) “e-auction” means auction by electronic mean;
(d) "Forms" means Forms appended to these rules;
(e) "Improvement Trust" means Trust created under the provisions of the Punjab Town Improvement Act, 1922;
(f) "Institutional purposes" means purposes relating to setting up of educational, charitable and social institutions and the district level office of national and regional political parties;
PUNJAB GOVT. GAZ. (EXTRA), OCTOBER 26, 2021 (KRTK 4, 1943 SAKA) 2638
(g) "Land and building owned by a Municipality" means the properties vested in the Municipalities under the Punjab Municipal Act, 1911 or the Punjab Municipal Corporation Act, 1976 or the Punjab Town Improvement Act, 1922;
(h) "Locally displaced person" means a person who is the owner of any land acquired by the Municipality for the execution of any scheme under the relevant Acts and who has been such an owner for a continuous period of two years immediately preceding the date of publication of such scheme by the Municipality;
(i) “Management of the municipal property” means regulation, administration; superintendence, care, charge, conduct, and treatment of the municipal properties;
(j) "Market value" means the value at which such immovable property could be sold, leased or otherwise transferred in normal and fair competition;
(k) "Multi-storeyed house" means a house or building having more than one floor;
(l) “Reserve price” means price fixed by the Price and Rent Fixation Committee constituted under section 7 of the Act; and
(m) "section" means a section of the Act;
(2) The words and expressions used but not defined in these rules shall have the same meaning as assigned to them in the Act of 2020