Gujarat State Guarantees Act, 1963

Gujarat State Guarantees Act, 1963
- 1. Short title.
- 2. Fixation of limit upto which the State may give guarantees.

The Gujarat State Guarantees Act, 1963

Gujarat Act No. 22 of 1963

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(First published, after having received the assent of the Governor in the ''Gujarat Government Gazette" on the 6th May, 1963.)

LEGISLATIVE HISTORY 6

An Act to fix the limit upto which the executive power of the State shall extend to the giving of guarantees

It is hereby enacted in the Fourteenth Year of the Republic of India as follows:-

1. Short title. - This Act may be called the Gujarat State Guarantees Act, 1963.

2. Fixation of limit upto which the State may give guarantees. - The limit upto which the executive power of the State Government shall extend to the giving of guarantees (including the guarantees given before the commencement of this Act) as provided in clause (1) of article 293 of the Constitution shall be the sum of [Rs. 200,00,00,00,000].

[2) The State Government shall within a period of six months from the end of the financial year in which any guarantees are given, lay before the Legislative Assembly of the State-

(a) a statement of guarantees which may have been given during that year, and

(b) an account of the local sums which during that year may have been either issued out of the Consolidated fund of the State to meet with liabilities arising out of the guarantees so given or paid in or towards repayment of the same so issued:

Provided that of the Legislative Assembly of the State is not in session or is not sitting on the date on which the said period of six months expires, the said period of six months shall be deemed to expire on the first day on which the Legislative Assembly first sits after the aforesaid date.]