Contingency Fund of India Act, 1950

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

Contingency Fund of India. There shall beĀ established aĀ Contingency FundĀ in theĀ nature of an imprest entitled the ContingencyĀ Fund ofĀ India, into which shall be paid from and outĀ of the Consolidated Fund of India a sum of 2*[fifty crores of rupees]:Ā 3*["Provided thatĀ during the period beginning on the 22nd day ofĀ October, 1979Ā and ending on the 31st day of March, 1980, this sectionĀ shall haveĀ effect subjectĀ to theĀ modification thatĀ forĀ theĀ wordsĀ "fifty croresĀ of rupees",Ā the words "one hundred and fifty crores ofĀ rupees"] 4*****ĀĀ 3. Custody of the Contingency Fund and withdrawals there from.

Fund and withdrawals there from. The Contingency FundĀ 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 advancesĀ shall be made out of such fund except for the purposes of meetingĀ unforeseenĀĀ expenditureĀ pendingĀĀ authorizationĀĀ ofĀĀ such expenditure by Parliament under appropriations made by law.

[(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."]