Unless the subject or context requires otherwise, in this Act:-

(a) "Establishment" means a company, organization, industry or any other body wholly or partially owned by the Government of Nepal and This term refers to any other company, organization, industry or any other body owned or controlled by such company, organization or industry.
(b) "Privatization" means the act of making the private sector participate in the management of the establishment, selling, leasing, transferring the government ownership to the public or by any other means the private sector or the employees, workers or all interested groups of such establishment participate partially or fully. .
(c) "Government sector" means the sector directly or indirectly wholly or partially owned by the Government of Nepal or participating in the management of any establishment.
(d) "Private sector" means the sector other than the government sector.
(e) "Committee" means the Privatization Committee constituted as per Section 3.
(f) "Prescribed" or "as prescribed" means prescribed or prescribed in the rules made under this Act.