Sugar Development Fund Act, 1982
No: 4 Dated: Mar, 19 1982
THE SUGAR DEVELOPMENT FUND ACT, 1982
ACT NO. 4 OF 1982
An Act to provide for the financing of activities for development of sugar industry and for matters connected therewith or incidental thereto.
BE it enacted by Parliament in the Thirty-third Year of the Republic of India as follows:—
1. Short title, extent and commencement.—(1) This Act may be called the Sugar Development Fund Act, 1982.
(2) It extends to the whole of India.
(3) It shall come into force on such date1 as the Central Government may, by notification in the Official Gazette, appoint.
2. Definitions.—In this Act, unless the context otherwise requires,—
(a) “Committee” means the Committee constituted under section 6;
(b) “Fund” means the Sugar Development Fund formed under section 3;
(c) “prescribed” means prescribed by rules made under this Act;
(d) all other words and expressions used in this Act and not defined, but defined in the Sugar Cess Act, 1982 (3 of 1982), shall have the meanings respectively assigned to them in that Act.
3. Sugar Development Fund.—(1) There shall be formed a fund to be called the Sugar Development Fund.
(2) An amount equivalent to the proceeds of the duty of excise levied and collected under the Sugar Cess Act, 1982(3 of 1982), reduced by the cost of collection as determined by the Central Government, together with any moneys received by the Central Government for the purposes of this Act, shall, after due appropriation made by Parliament by law, be credited to the Fund.
(3) The Fund shall consist of the amounts credited under sub-section (2) and any income from investment of such amounts.
4. Application of Fund.—(1) The Fund shall be applied by the Central Government,—
(a) for making loans for facilitating the rehabilitation and modernisation of any sugar factory or any unit thereof or the undertaking of any scheme for development of sugarcane in the area in which any sugar factory is situated;
(aa) for making loans to any sugar factory or any unit thereof for bagasse-based co-generation power projects with a view to improving their viability;
(aaa) for making loans to any sugar factory or any unit thereof for production of anhydrous alcohol or ethanol from alcohol with a view to improving their viability;
(b) for making grants for the purpose of any research project aimed at development of sugar industry;
(bb) for defraying expenditure for the purpose of building up and maintenance of buffer stocks of sugar with a view to establishing price of sugar;
(bbb) for defraying expenditure on internal transport and freight charge to the sugar factories on export shipments of sugar with a view to promoting its export;
(bbbb) for defraying expenditure for the purpose of financial assistance to sugar factories towards interest on loans given in terms of any scheme approved by the Central Government from time to time;
(c) for defraying any other expenditure for the purposes of this Act.
(2) The manner in which any loans or grants may be made under this section and the terms and conditions subject to which such loans or grants may be made shall be such as may be prescribed.
5. Applications for loans or grants.—Every application for loan or grant under section 4 shall be made to the Committee in such manner and in such form as may be prescribed.