Government of National Capital Territory of Delhi Act, 1991 : BORROWING UPON THE SECURITY OF THE CONSOLIDATED

Government of National Capital Territory of Delhi Act, 1991,1992

Act No : 1

Section : BORROWING UPON THE SECURITY OF THE CONSOLIDATED FUND OF THE CAPITAL

SECTION 47A: BORROWING UPON THE SECURITY OF THE CONSOLIDATED FUND OF THE CAPITAL.

5- (1) The executive power of the Union extends to borrowing upon the security of the Consolidated Fund of the Capital, within such limits, if any, as may from time to time be fixed by Parliament by law and to the giving of guarantee within such limits, if any, as may be so fixed:

Provided that the powers exercisable by the Government of India under this subsection shall also be exercisable by the Lieutenant Governor subject to such conditions, if any, as the Government of India may think fit to impose.

(2) Any sums required for the purpose of invoking a guarantee shall be charged on the Consolidated Fund of the Capital.