Section 47 of The Government of Union Territories Act, 1963 — Consolidated Fund of the Union territory
Bare section text
Official Legislative Text
- (1)As from such date as the Central Government may, by notification in the Official Gazette, appoint in this behalf, all revenues received in 1[the Union territory] by the Government of India or the Administrator of the Union territory in relation to any matter with respect to which the Legislative Assembly of the Union territory has power to make laws, and all grants made and 2[all loans advanced to the Union territory from the Consolidated Fund of India and all loans raised by the Government of India or the Administrator of the Union territory upon the security of the Consolidated Fund of the Union territory] and all moneys received by the Union territory in repayment of loans shall form one Consolidated Fund to be entitled “the Consolidated Fund of the Union territory”.
- (2)No moneys out of the Consolidated Fund of 1[the Union territory] shall be appropriated except in accordance with, and for the purposes and in the manner provided in, this Act.
- (3)The custody of the Consolidated Fund of 1[the Union territory], the payment of moneys into such Fund, the withdrawal of moneys therefrom and all other matters connected with or ancillary to those matters shall be regulated by rules made by the Administrator with the approval of the President.
Educational Study Layer
Summary
- All government income, including taxes, central grants, and loans, is kept in one account called the Consolidated Fund of the Union territory.
- This fund includes money the government receives when people pay back loans they previously took from the Union territory.
- No money can be taken out of this fund unless it is for a purpose and in a way that is specifically allowed by this Act.
- The Administrator makes the rules for managing the fund, including how to pay money in or take it out, but the President must approve these rules.
- The fund officially begins on a date chosen by the Central Government and published in the Official Gazette.
Practical examples
FAQ
1. What exactly is the "Consolidated Fund" mentioned in Section 47?
It is the single bank account for the Union territory that holds all revenues, grants, and loans as defined by Section 47 of this Act.
2. Can the Administrator take money out of the fund for any reason they want?
No, Section 47 of the Act says money can only be used for the purposes and in the manner provided in this Act.
3. Who has to approve the rules for withdrawing money from the Consolidated Fund?
The Administrator makes the rules, but they must have the approval of the President under Section 47 of this Act.
4. Does the fund start as soon as the Union territory is created?
No, it starts from a date appointed by the Central Government by notification in the Official Gazette as per Section 47 of this Act.
Practice Quiz
Q1.Under Section 47 of this Act, which of the following does NOT go into the Consolidated Fund?
Q2.According to Section 47 of this Act, how must money be taken out of the Consolidated Fund?
Q3.Who makes the rules for the "custody" of the Consolidated Fund under Section 47 of this Act?
Q4.Under Section 47 of this Act, what forms the Consolidated Fund besides revenues and grants?