Vidhi Codex

THE PUNJAB CONTINGENCY FUND ACT, 1950

The Punjab Contingency Fund Act, 1950

Finance19504 sections

This Act establishes a Contingency Fund for the State of Punjab to manage unexpected expenses that occur suddenly between legislative sessions. The Fund, held in the nature of an imprest system, currently holds 25 crores of rupees and is placed at the disposal of the Governor for making brief advances during emergencies. When the Governor advances money for such purposes, the Legislature must later authorize these expenses through appropriations, and the amounts must be returned to the Fund to maintain its integrity. This ensures financial stability while allowing the state government to respond appropriately to unforeseen circumstances that require immediate action without delaying funding approvals.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement.
  2. 2. Establishment of the Contingency Fund of the State.
  3. 3. Purposes for which the Fund may be utilized.
  4. 4. Power to make rules.

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