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2. Definitions.-

In this Act, unless the context otherwise requires,-

2[(a) "Board" means the Technology Development Board constituted under the Technology Development Board Act, 1995 (44 of 1995);

(b) "cess" means the cess levied under section 3;]

(d) "Import", in relation to any technology, means the bringing into India of, such technology from a place outside India;

(e) "industrial concern" has the meaning assigned to it in clause (c) of section 2 of the Industrial Development Bank of India Act, 1964 (18 of 1964), and includes any other person in whose favour a foreign collaboration involving the import of technology 3[is approved or automatically approved in accordance with the Industrial Policy of the Government of India in force from time to time];

(f) "prescribed" means prescribed by rules made under this Act;

(g) "specified agency" means-

(i) the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (2 of 1934); or

(ii) the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955); or

(iii) such other bank or institution as may be specified in this behalf by the Central Government;

(h) "technology" means any special or technical knowledge or any special service required for any purpose whatsoever by an industrial concern under any foreign collaboration, and includes designs, drawings, publications and technical personnel.

1. 1st December, 1987, vide notification No. S.O. 879(E), dated 5th October, 1987, see Gazette of India, Extraordinary, Part II, sec. 3(ii).

2. Subs. by Act 45 of 1995, s. 2, for clauses (a) to (c)(w.e.f.1-9-1996).

3. Subs. by s. 2, ibid., for "is approved by the Central Government" (w.e.f. 1-9-1996).

Research and Development Cess Act, 1986 Back

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