Vidhi Codex

The Nagaland Contigency Fund Act,1964

The Nagaland Contigency Fund Act, 1964

General19645 sections

The Nagaland Contingency Fund Act, 1964 establishes an emergency reserve fund for the state government of Nagaland to handle unexpected financial needs. Managed by the Finance Department Secretary on behalf of the Governor, this fund acts as an imprest system with an initial allocation of thirty-five lakh rupees from state revenues. It enables the state executive to quickly finance urgent, unforeseen public expenditure without waiting for prior legislative approval. To ensure fiscal accountability, any money spent from this fund must be formally presented to and authorized by the Nagaland Legislative Assembly within the same financial year.

Start reading →Read full ActSections
  1. 1. Short Title, extent and commencement.
  2. 2. Establishment of a Contingency Fund.
  3. 3. Payment into the Contingency Fund.
  4. 4. Expenditure met from Contingency Fund to be paid before Legislature for authorization.
  5. 5. Power to make Rules.

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