THE
STATE FINANCIAL CORPORATIONS (AMENDMENT) ACT,2000
Short
Title
This
Act may be called the State Financial Corporations (Amendment) Act.
2000.
Amendment
of Section 2
In
section 2 of the State Financial Corporations Act, 1951 (hereinafter referred
to as the principal Act).-
(a)
in clause (c).-
(i)
for sub-clauses (x) to (xiii), the following sub-clauses shall be substituted,
namely:-
"(x)
providing weigh bridge facilities;
(xi)
providing engineering, technical, financial, management, marketing or other
services or facilities for industry;
(xii)
providing medical, health or other allied services;
(xiii)
providing software or hardware services relating to information technology,
telecommunications or electronics including satellite linkage and audio
or visual cable communication;
(xiv)
setting up or development of tourism related facilities including amusement
parks, convention centers, restaurants, travel and transport (including
those at airports), tourist service agencies and guidance and counselling
services to the tourists;
(xv)
construction;
(xvi)
development, maintenance and construction of roads;
(xvii)
Providing commercial complex facilities and community centers including
conference halls;
(xviii)
floriculture;
(xix)
tissue culture, fish culture, poultry farming, breeding and hatcheries;
(xx)
service industry, such as altering, ornamenting, polishing, finishing,
oiling, washing, cleaning or otherwise treating or adapting any article
or substance with a view to its use,sale, transport, delivery or disposal;
(xxi)
research and development of any concept, technology, design, process or
product, whether in relation to any of the matters aforesaid, including
any activities approved by the Small Industries Bank; or
(xii)
such other activity as may be approved by the Small Industries Bank;'';
(ii) in
Explanation 2, for the words "Development Bank'', in both the places wherever
they occur, the words "Small Industries Bank'' shall be substituted;
(b) after
clause kid), the following clause shall be inserted, namely;_
`(da)
the expression "public sector bank'' 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 section 3 of the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970 or under section 3 of the banking
Companies (Acquisition and Transfer of Undertakings) Act, 1980;';
(c)
clauses (ff) and (fff.) shall be re-lettered as clauses (fb) and (fc) thereof
and before clause (fb) as so re-lettered, the following clause shall be
inserted, namely:-
`(fa)
"Small Industries Bank'' means the Small Industries Development Bank of
India established under sub-section (1) of section 3 of the Small Industries
Development Bank of India Act, 1898".
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