In section 2 of the principal Act, after clause (n), the following clause shall be inserted, namely:--
'(nn) "private airport" means an airport owned, developed or managed by--
(i) any person or agency other than the Authority or any State Government or
(ii) any person or agency jointly with the Authority or any State Government or both where the share of such person or agency, as the case may be, in the assets of the private airport is more than fifty per cent.;'.