Punjab Contingency Fund Act, 1950
No: 13 Dated: Oct, 31 1950
The Punjab Contingency Fund Act, 1950
(Punjab Act 13 of 1950)
An Act to provide for the establishment and maintenance of a Contingency Fund in the State of Punjab
Whereas it is expedient to provide for the establishment and maintenance in the State of Punjab of a Contingency Fund to be placed at the disposal of the Governor, to enable him to make advances out of the Fund for the purposes of meeting unforeseen expenditure of the State pending authorisation of such expenditure by the Legislature of the State by law under Article 205 or Article 206 of the Constitution;
And whereas the Legislature of the State, by clause (2) of Article 267 of the Constitution of India, has been empowered by law to establish such Fund;
It is hereby enacted as follows:-
1. Short title, extent and commencement. - (1) This Act may be called the Punjab Contingency Fund Act, 1950.
(2) It extends to the whole of the State of Punjab.
(3) It shall come into force at once.
2. Interpretation. - In this Act, "the Fund" means the Punjab Contingency Fund established under section 3.
3. Establishment of Punjab Contingency Fund . - On the commencement of this Act, the State Government shall establish in and for the State of Punjab a fund called the Punjab Contingency Fund in the nature of an imprest account.
4. Constitution of the Fund. - The State Government shall, on the commencement of this Act, appropriate a sum of one crore of rupees out of the Consolidated Fund of the State and place it to the credit of the Fund.
Provided that the aforesaid sum shall be-
(i) two crores of rupees on and with effect from the 22nd October, 1970;
(ii) three crores of rupees on and with effect from the 17th October, 1973;
(iii) eight crores of rupees on and with effect from the commencement of the Punjab Contingency Fund (Amendment) Act, 1975.
(iv) twelve crores of rupees on and with effect from the commencement of the Punjab Contingency Fund (Amendment) Act, 1978.
(v) Twenty-five crores of rupees on and with effect from the commence of the Punjab Contingency Fund (Amendment) Act, 1980.
5. Purposes for which the Fund may be utilized. - The Fund shall be placed at the disposal of the Governor of Punjab, who shall not expend it except for the purposes of making advances from time to time for meeting unforeseen expenditure of the State pending authorisation of such expenditure by the Legislature of the State under appropriations made by law; and immediately after the coming into operation of such law, an amount equal to the amount or amounts advanced by the Governor for the purposes aforesaid shall be deemed to have been placed to the credit of the Fund and the amount so transferred or deemed to have been transferred shall for all purposes form part of the Fund.
6. Power to make rules. - The State Government may by notification make rules to carry out all or any of the purposes of the Act.