Tamil Nadu Contingency Fund Act, 1954
No: 2 Dated: Feb, 03 1954
THE TAMIL NADU CONTINGENCY FUND ACT, 1954
Tamil Nadu Act 2 of 1954
An Act to re-enact the Tamil Nadu Contingency Fund Act, 1954.
Whereas it is expedient to re-enact the Madras Contingency Fund Act, 1950 (Madras Act XIV of 1950), with certain modifications, as a result of the formation of the State of Andhra and the increasing of the area of the State of Mysore; It is hereby enacted as follows:-
1. Short title, extent and commencement. - (1) This Act may be called the Tamil Nadu Contingency Fund act, 1954.
(2) It extends to the whole of the State of Tamil Nadu.
(3) It shall come into force at once.
2. Establishment of a Contingency Fund. - (1) There shall be established for the State of Tamil Nadu a Contingency Fund in the nature of an impress, called "the Contingency Fund of the State of Tamil Nadu, and consisting of a sum of twenty crores of rupees transferred from the Consolidated Fund of the State of Tamil Nadu
Provided that during the period beginning on the 10th day of August 1992 and ending with the 31st day of March 1993, this sub-section shall have effect, subject to the modification that for the words “seventy-five crores of rupees”, the words “one hundred and fifty crores of rupees” have been substituted.
(2) Such Contingency Fund shall be at the disposal of the Governor of Tamil Nadu; and he shall have authority to make advances there from for the purpose of meeting any unforeseen expenditure, pending authorization of such expenditure by the State Legislature by law under Article 205 or Article 206 of the Constitution.
(3) As often as any such expenditure is authorized by law as aforesaid, the State 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 State Government may, by notification in the Fort St. George Gazette, make rules for the purpose of carrying into effect the provisions of this Act.
4. Repeal:- The Tamil Nadu Contingency Fund Act, 1950 Tamil Nadu Act XIV of 1950, is hereby repealed and the balance in the Fund established by the said Act is hereby transferred to the Consolidated Fund of the State of Madras