Generation - Law Dictionary Search Results
Home Dictionary Name: generationgeneration-skipping transfer
generation-skipping transfer : a transfer of property or of an interest in property that is to a person of a generation more than one generation below that of the transferor and that can be characterized as a taxable termination, a taxable distribution, or a direct skip see also direct skip generation-skipping trust at trust, skip person, taxable distribution, taxable termination NOTE: A transfer from a grandparent to a grandchild qualifies as a generation-skipping transfer, as does a transfer of a life estate to a child with a remainder in the grandchild. Such transfers are subject to a generation-skipping transfer tax. ...
Generating station
Generating station, 'generating station' or 'station' means any station for generating electricity, including any building and plant with step-up transformer, switch-gear, switch yard, cables or other appurtenant equipment, if any, used for that purpose and the site thereof; a site intended to be used for a generating station, and any building used for housing the operating staff of a generating station, and where electricity is generated by water-power, includes pen stocks, head and tail works, main and regulating reservoirs, dams and other hydraulic works, but does not in any case include any sub-station. [Electricity Act, 2003 (36 of 2003), s. 2(28)]...
generation-skipping transfer tax
generation-skipping transfer tax : a transfer tax on a generation-skipping transfer called also generation-skipping tax ...
Induction generator
A machine built as an induction motor and driven above synchronous speed thus acting as an alternating current generator called also asynchronous generator Below synchronism the machine takes in electrical energy and acts as an induction motor at synchronism the power component of current becomes zero and changes sign so that above synchronism the machine driven for this purpose by mechanical power gives out electrical energy as a generator...
Captive generating plant
Captive generating plant, means a power plant set up by any person to generate electricity primarily for his own use and includes a power plant set up by any co-operative society or association of persons for generating electricity primarily for use of members of such co-operative society or association. Electricity Act, 2003, s. 2(8). A.P. Gas Power Corporation v. A.P. Electricity Regulatory Commission, AIR 2006 AP 12....
generation-skipping tax
generation-skipping tax : generation-skipping transfer tax ...
Generate
Generate, means to produce electricity from a generating station for the purpose of giving supply to any premises or enabling a supply to be so given. [Electricity Act, 2003 (36 of 2003), s. 2(29)]...
Generating company
Generating company, means any company or body corporate or association or body of individuals, whether incorporated or not, or artificial juridical person, which owns or operates or maintains a generating station. [Electricity Act, 2003 (36 of 2003), s. 2(28)]...
Generation
Generation, generation is also for the same purpose as are transmission and transformation of electrical energy into power of appropriate voltage, State of Mysore v. West Coast Paper Mills, AIR 1975 SC 5 (9): (1975) 3 SCC 448.A single degree or stage in the succession of persons in natural descent; the average time span between the birth of parents and the birth of their child, Black's Law Dictionary, 7th Edn., p. 694....
generation-skipping trust
generation-skipping trust see trust ...
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