2. Definitions

In these rules, unless the context otherwise requires :-

  1. the 'Act' means the Kerala Local Authorities Loans Act, 1963 (Act 30 of 1963);
  2. "Government Loan" means a loan taken by a local authority from the Government funds;
  3. "loan" means a loan made, taken or raised under the Act;
  4. "non-Government loan" means a loan raised otherwise than from Government funds;
  5. "term of a loan" means the period elapsing between the date on which the loan is completely made, taken or raised and the date on which it is completely repaid.