Punjab Infrastructure (Development & Regulation) Act, 2002
No: 8 Dated: Jul, 09 2002
The Punjab Infrastructure (Development & Regulation) Act, 2002
Punjab Act 8 of 2002
An Act to provide for creation, development, maintenance and operation of infrastructure and for the matters connected therewith or incidental thereto.
Be it enacted by the Legislature of the State of Punjab in the fifty-third year of the Republic of India as follows :
CHAPTER I
PRELIMINARY
1. Short title and commencement. - (1) This Act may be called the Punjab Infrastructure (Development & Regulation) Act, 2002.
(2) It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint.
2. Definitions. - In this Act, unless the context otherwise requires;
(1) "Authority" means the Punjab Infrastructure Regulatory Authority established under section 4;
(2) "Board" means the Punjab Infrastructure Development Board established under section 18;
(3) "bye-laws" means the by-laws made by the Board under section 24;
(4) "Chairperson" means the Chairperson of the Authority;
(5) "concession" includes any right or interest granted to a concessionaire in relation to any aspect of an infrastructure project, as well as any subsidy, subvention, grant or other similar financial incentive granted by the State Government to secure the viability and commercial efficacy of an infrastructure project;
(6) "concession agreement" means any of the contracts executed for the purposes of private participation in an infrastructure project between a concessionaire and a public infrastructure agency in terms of this Act, or the rules or regulations made thereunder as per the model specified in Schedule II;
(7) "concession fee" means the sum of money required to be paid by the concessionaire to a public infrastructure agency in consideration of grant of a concession for undertaking an infrastructure project pursuant to the provisions of this Act, rules or regulations made thereunder;
(8) "concessionaire" means a person, who is selected and awarded a concession for financing, development, maintenance or operation of an infrastructure project in terms of this Act or rules or regulations made thereunder ;
(9) "committee" means a Committee and includes a Sectoral Sub-Committee, Project Implementation Sub-Committee or any other Committee called by any other name, constituted by the Board under this Act for the purposes assigned to them ;
(10) "development" includes creation of new facilities, rehabilitation; improvement 'expansion', alteration and replacement of existing facilities;
(11) "Development Fund" means the Punjab Infrastructure Development Fund constituted under section 27;
(12) "disinvestment" means a sale of equity or shares held by the State Government or a public body to any person;
(13) "fee" means a charge levied and collected for facilitating the development, maintenance and providing of infrastructure facilities under this Act;
(14) "infrastructure project" means a project in any of the infrastructure sectors, which may involve development, maintenance or operation of infrastructure facilities through private participation or financial sources other than those provided by State Budget;
(15) "infrastructure sector" means an infrastructure sector specified in Schedule I and shall include such other sectors as may be notified by the State Government from time to time in this behalf;
(16) "milestone bonding" means a schedule or chart indicating the specified time within which a work is to be completed;
(17) "negotiated contract" means a contract entered into by the State Government in terms of section 36;
(18) "notification" means a notification published in the Official Gazette of the State of Punjab;
(19) "prescribed" means prescribed by the rules made under this Act;
(20) "private participation" means the participation in development, maintenance or operation of infrastructure projects by any person other than the State Government, public infrastructure agency or public body as may be permitted by the Board from time to time;
(21) "Project Management Team" means a team of expert officials of the Board;
(22) "public body" means a body either established by State Government or working under the control of the State Government;
(23) "public infrastructure agency" means a Government Department, Government Company, Government-owned or controlled Corporation, Local Authority or a Public Body, which own, govern or control infrastructure sectors or infrastructure projects;
(24) "regulations" means the regulations made by the Authority under section 17;
(25) "rules" means the rules made by the State Government under section 46;
(26) "Schedule" means a schedule appended to this Act;
(27) "Schedule of amortisation" means a schedule of periodic payments of interest and principal owed on a debt obligation;
(28) "section" means a section of this Act;
(29) "sectoral policy" means a policy pertaining to an infrastructure sector;
(30) "service provider" means any agency or body other than those constituted under the Act, which provides services to the Board;
(31) "special purpose vehicle" means any body or authority, consisting of experts in the relevant fields as may be constituted by the Board to execute an infrastructure project;
(32) "State Government" means the Government of the State of Punjab in the Department of Finance;
(33) "tariff" means a toll or charge or fee, other than the fee levied under clause (13) of section 2 and section 25, payable by the users of an infrastructure project;
(34) "unsolicited proposal" means a proposal for the development, maintenance or operation of an infrastructure project received from any person without any invitation or a proposal initiated, by the State Government or the Board in terms of section 37 ; and
(35) "Vice-Chairperson" means the Vice-Chairperson of the Authority.