Section 2:
Definitions.
In this Act, unless the context otherwise requires,--
(a) "controlled price" means the price of the relevant grade of levy sugar, determined from time
to time under sub-section (3C) of section 3 of the Essential Commodities Act, 1955 (10 of 1955), or
under the Defence and Internal Security of India Rules, 1971, in relation to any year of production;
(b) "excess realisation", in relation to each grade of levy sugar,--
(i) means the price realised by any producer, on the sale of levy sugar of such grade, in
excess of--
(a) the controlled price, or
(b) where any fair price has been fixed by a court for levy sugar of such grade, such fair
price, and
(ii) includes any realisation representing the difference between the controlled price and the
price allowed by the court by an interim order, if such interim order is set aside, whether by the
court which made the order or in appeal or revision;
1
[Explanation.--For the removal of doubts, it is hereby declared that where in relation to levy
sugar of any grade sold by any producer, the producer has realised towards duties of excise with
respect to such sugar any amount in excess of the amount payable by way of such duties, such
excess shall also be deemed to be excess realisation within the meaning of this clause];
(c) "fair price", in relation to levy sugar, means the price fixed by the court in excess of the
controlled price, and, where an interim price, fixed by the court, is superseded by a price which is
finally fixed by the court, the price so finally fixed;
(d) "Fund" means the Levy Sugar Price Equalisation Fund, established under section 3;
2
[(e) "levy sugar" means the sugar requisitioned by the Central Government under clause (f) of
sub-section (2) of section 3 of the Essential Commodities Act, 1955 (10 of 1955);]
(f) "prescribed" means prescribed by rules made under this Act;
(g) "producer" means a person carrying on the business of manufacturing sugar by the vacuum
pan process.
Notes:
1 The Explanation ins. by Act 54 of 1984, s. 2 (w.e.f. 23-8-1984).
2 Subs. by s. 2, ibid., for clause (e) (w.e.f. 23-8-1984).