Jammu and Kashmir Contingency Fund Act, 1957

No: 24 Dated: Sep, 30 1957

THE JAMMU AND KASHMIR CONTINGENCY FUND ACT, 1957

Act No. XXIV of 1957

    An Act to provide for the establishment and maintenance of a Contingency Fund for the State of Jammu and Kashmir.

    Whereas section 116 of the Jammu and Kashmir Constitution provides that the Legislature may by law establish a Contingency Fund in the nature of an imprest ;

    And whereas it is expedient to establishment such a Contingency Fund for the State of Jammu and Kashmir.

It is hereby enacted as follows :-

1. Short title, extent and commencement. - (1) This Act may be called the Jammu and Kashmir Contingency Fund Act, 1957.

(2) It extends to the whole of the State of Jammu and Kashmir.

(3) It shall come into force at once.

2. Establishment of a Contingency Fund. - (1) There shall be established for the State of Jammu and Kashmir a Contingency Fund in the nature of an imprest, called the "Contingency Fund of State of Jammu and Kashmir" and consisting of a sum of [one hundred lakhs of rupees withdrawn from the Consolidated Fund of the State.]

(2) Such Contingency Fund shall be at the disposal of the [Governor] ; and he shall have the authority to make advances therefrom for the purpose of meeting any unforeseen expenditure, pending authorisation of such expenditure by the State Legislature by law under section 82 or section 83 of the Constitution of Jammu and Kashmir.

(3) As often as any such expenditure is authorised by law as aforesaid, the Government shall recoup to the Contingency Fund an amount equal to the advance taken from such Fund to meet the expenditure.

3. Power to make rules. - The Government may, by notification, make rules for the purpose of carrying into effect the provisions of this Act.