Accounts of the Fund and making up of the deficiency in the Fund.

General19367 sections

Statutory text

(1) The accounts of the Fund shall be made up at the end of each financial year, the securities belonging to the Fund being valued at their market value on the last day of such year.
(2) If the accounts so made up show that the balance in the Fund at the end of such year falls short of sixty lakhs of rupees, the deficiency shall be made up from the revenues of the State: Provided that if the deficiency exceeds five lakhs of rupees, it may be made up in annual instalments, the amount of each instalment except the last being not less than five lakhs of rupees.
(3) All sums payable to the Fund under sub-section (2) shall be expenditure charged on the Consolidated Fund of the State.

Study data processing for this section.

PDF: pending for this language.