2. [ ***] In this Act unless the context otherwise requires,—
(a) "Corporation" means the Uttar Pradesh Financial Corporation established under the State Financial Corporation Act, 1951, and includes any other Corporation owned or controlled by the Central Government or the State Government and specified in a notification issued in that behalf by the State Government in the official Gazette ;
(b) ‘"financial assistance’" means any financial assistance,–
@Span@(i) for establishing, expanding, modernising, renovating or running any industrial undertaking ; or
@Span@(ii) for purposes of vocational training; or
@Span@(iii) for the development of agriculture, horticulture, animal husbandry or agro-industry ; or
@Span@(iv) for purposes of any other kind of planned development ; or
@Span@(v) for relief against distress ;/be
@Span@(c) ‘‘Government Company’’ means a Government Company as defined in section 617 of the Companies Act, 1956 ;
@Span@(d) "Industrial concern’" has the meaning assigned to the expression in the State Financial Corporation Act, 1951, as amended from time to time ;/be
@Span@(e) "Industrial undertaking’dqts includes any undertaking for the manufacture, preservation, storage or processing of goods, or mining, or the hotel industry, or the transport of passengers or goods, or the generation or distribution of electricity or any other form of power, or for the development of any contiguous area of land as an industrial estate;/be/hr` @Span@Explanation—The expression "processing of goods" includes any art or process for producing, preparing or making an article by subjecting any material to a manual, mechanical, chemical, electrical or any other like operation ;/be
@Span@(f) "banking company" means the State Bank of India, constituted under the State Bank of India Act, 1955, a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959, a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, or a banking company as defined in the Banking Regulation Act, 1949 ; [ or a financing bank or Central Bank as defined in the Uttar Pradesh Co-operative Societies Act, 1965 not being a land development bank.] ;
[ (g) "State-sponsored schemedbqrsmeans a scheme sponsored by way of financial assistance by the State Government under which the State Government either advance money to a banking company or a Government company for the purpoe of disbursing loans, advances or grants or for purpose of sale of goods on credit or hire-purchase or guarantees or agrees to guarantee the repayment of a loan, advance or grant or the payment of the price of goods sold on credit on hire purchase [ and includes any other scheme of financial assistance, by a banking company or a Government company, which is declared to be a State-sponsored scheme by the State Government by notification in the Gazette.]