Contingency Fund of India Act, 1950

This  Act may  be called the Contingency Fund of India Act, 1950.

There shall be� established a� Contingency Fund� in the� nature of an imprest entitled �the Contingency� Fund of� India, into which shall be paid from and out� of the Consolidated Fund of India a sum of 2*[fifty crores of rupees]:� 3*["Provided that� during the period beginning on the 22nd day of� October, 1979� and ending on the 31st day of March, 1980, this section� shall have� effect subject� to the� modification that� for� the� words� "fifty crores� of rupees",� the words "one hundred and fifty crores of� rupees"] 4*****�� 3. Custody of the Contingency Fund and withdrawals there from.

The Contingency Fund� of India shall be held on behalf of the President by a Secretary to the Government of India in the Ministry of Finance, and no advances� shall be made out of such fund except for the purposes of meeting� unforeseen�� expenditure� pending�� authorization�� of�� such expenditure by Parliament under appropriations made by law.

4. Power to make� rules.

[(1)]5*� For the purpose of carrying out� the� objects� �of� this� Act,� the� Central� Government� may� 6*[,� by� notification in� the Official� Gazette,] make� rules 7* regulating all� matters connected� with or ancillary to the custody of, the payment of� moneys into and the withdrawal of moneys from, the Contingency Fund of� India.6*["(2) Every rule made under this section shall be laid, as soon� as may� be after it is made, before each House of Parliament, while it� is in� session, for� a total� period� of� thirty� days� which� may� be� comprised in� one session� or in� two or more successive sessions. And� if, before the expiry of the session immediately following the session� or the� successive sessions aforesaid, both Houses agree in making any� modification in the rule or both Houses agree that the rule should not� be made,� the rule� shall thereafter have effect only in such modified� form or� be of� no effect,� as the� case may be; so, however, that any� such modification� or annulment� shall be� without� prejudice� to� the� validity of anything previously done under that rule."]

1. The Act has been extended to-- Goa, Daman� and Diu� by Reg. 12 of 1962, s. 3 and Sch.; Dadra and� Nagar Haveli� by Reg.� 6 of� 1963, s.

2. and Sch. I; and Pondicherry by� Reg. 7 of 1963, s. 3 and Sch. I. 2.�� Subs. by Act 81 of 1976, s. 2, for "thirty crores of rupees".

3. Added by Act 4 of 1980, s. 2 (w.e.f. 22-10-1979).

4. The proviso omitted by s. 2, ibid., which was previously inserted by Act 10 of 1972, s. 2 (w.e.f. 9-2-1972).

5. S. 4, numbered as sub-section (1) thereof by Act 51� of� 1982, s.2.

6. Ins. by s. 2, ibid.

7. For Contingency� Fund of� India Rules,� see G.S.R.O.� Vol. VI, p.� 333.