Clause 119 - Definitions - Finance Bill, 2015

Definitions. Definitions. 119. In this Chapter, unless the context otherwise requires,-- (1) Agency means the Public Debt Management Agency established under section 120; (2) Board means the Board of the Agency; (3) Chief Executive Officer means the Chief Executive Officer of the Agency; (4) executive member means a member of the Board, not being a nominee member, who is responsible for the day-to-day management and functioning of the Agency; (5) Government security means a security that is created and issued by the Central Government; (6) nominee member means a member of the Board, nominated under sub-section (3) of section 123; (7) notification means the notification published in the Official Gazette and the expression notify shall be construed accordingly; (8) prescribed means prescribed by rules made by the Central Government under this Chapter; (9) public debt means the obligation arising from borrowings, whether internal or external, upon the Central Government; (10) register of holders means the register of holders of Government securities maintained by the Agency under section 127; (11) Reserve Bank means the Reserve Bank of India established under section 3 of the Reserve Bank of India Act, 1934. (2 of 1934.)