Karnataka Ceiling on Government Guarantees Act, 1999

No: 11 Dated: Apr, 29 1999

Karnataka Ceiling on Government Guarantees Act, 1999

(As Amended by Act 15 of 2002)

An Act to provide for ceiling on Government Guarantees and other matters connected therewith.

WHEREAS it is expedient to provide for ceiling on the Government guarantees issued on behalf of the Government Departments, Public Sector Undertakings, Local Authorities, Statutory Boards and Corporations and Co-operative Institutions and for promoting fiscal discipline of the State;

BE it enacted by the Karnataka State Legislature in the fiftieth year of the Republic of India, as follows:-

1. Short title and commencement.- (1) This Act may be called the Karnataka Ceiling on Government Guarantees Act, 1999.