Section 2, Prize Chits and Money Circulation Scheme (Banning) Act, 1978 [S1Q-PJR]
As at 7 September 2026. In force from 11 August 1978.
2. Definitions.—In this Act, unless the context otherwise requires,— (a) "procuring entity" means a Ministry or Department of the Central Government or a body owned or controlled by the Central Government; (b) "bidder" means any person participating in a procurement process; (c) "procurement" means the acquisition by purchase, lease, licence or otherwise of goods, works or services; (d) "Consolidated Fund" means the Consolidated Fund of India referred to in article 266 of the Constitution; (e) "financial year" means the year commencing on the 1st day of April; (f) "prescribed" means prescribed by rules made under this Act; (g) "notification" means a notification published in the Official Gazette, and the expression "notified" shall be construed accordingly; (h) "prescribed" means prescribed by rules made under this Act.
Defined terms in this text (6)
bidder: Schedule 2, Prize Chits and Money Circulation Scheme (Banning) Act, 1978 [S1QPJR] (In this Act, unless the context otherwise requires,—): "bidder" means any person participating in a procurement process
bidder: 18 more definitions.
Consolidated Fund: Schedule 2, Prize Chits and Money Circulation Scheme (Banning) Act, 1978 [S1QPJR] (In this Act, unless the context otherwise requires,—): "Consolidated Fund" means the Consolidated Fund of India referred to in article 266 of the Constitution
Consolidated Fund: 12 more definitions.
financial year: Schedule 2, Prize Chits and Money Circulation Scheme (Banning) Act, 1978 [S1QPJR] (In this Act, unless the context otherwise requires,—): "financial year" means the year commencing on the 1st day of April
financial year: Section 3, General Clauses Act, 1897 [S100SN] (In this Act, and in all Central Acts and Regulations made after the commencement of this Act, unless there is anything repugnant in the subject or context): (21) "financial year" shall mean the year commencing on the first day of April; (22) a thing shall be deemed to be done in "good faith" where it is in fact done honesty, whether it is done negligently or not;
financial year: 21 more definitions.
prescribed: Schedule 2, Prize Chits and Money Circulation Scheme (Banning) Act, 1978 [S1QPJR] (In this Act, unless the context otherwise requires,—): "prescribed" means prescribed by rules made under this Act
prescribed: 996 more definitions.
procurement: Schedule 2, Prize Chits and Money Circulation Scheme (Banning) Act, 1978 [S1QPJR] (In this Act, unless the context otherwise requires,—): "procurement" means the acquisition by purchase, lease, licence or otherwise of goods, works or services
procurement: 19 more definitions.
procuring entity: Schedule 2, Prize Chits and Money Circulation Scheme (Banning) Act, 1978 [S1QPJR] (In this Act, unless the context otherwise requires,—): "procuring entity" means a Ministry or Department of the Central Government or a body owned or controlled by the Central Government
procuring entity: 16 more definitions.
Made under this section, or naming it (0)
none
Cited by (1)
Rule 2, Prize Chits and Money Circulation Scheme (Banning) Act Rules, 1978 [S1Q-QA9], 11 August 1978, Band A. " (2) Words and expressions used herein and not defined but defined in the Act shall have the meanings respectively assigned to them in the Act".
Not held (0)
none
Duties published under this section (0)
none