Section 2: Establishment of the Contingency Fund of India.

The Contingency Fund of India Act, 1950Central Act · Act 49 of 1950

[(1)] There shall be established a Contingency Fund in the nature of an impress entitled the Contingency Fund of India, into which shall be paid from and out of the Consolidated Fund of India a sum of [fifty crores of rupees.]

[(2) On and from the date on which the Finance Bill, 2005 receives the assent of the president, the sum which shall be paid from and out of the Consolidated Fund of India into the Contingency Fund of India under sub-section (1) shall stand enhanced to five hundred crores of rupees.]

[(3) On and from the date on which the Finance Bill, 2021 receives the assent of the President, the sum which shall be paid from and out of the Consolidated Fund of India into the Contingency Fund of India under sub-section (2) shall stand enhanced to thirty thousand crores of rupees.]

[Provided that during the period beginning on the 28th day of July, 1999 and ending on the 31st day of March, 2000, this section shall have effect subject to the modification that for the words “fifty crores of rupees”, the words “five hundred and fifty crores of rupees” shall be substituted:

Provided further that during the period beginning on the 24th day of January, 1998 and ending on the 31st day of March, 1998, this section shall have effect subject to the modification that for the words “fifty crores of rupees”, the words “thirty-two thousand four hundred and ninety crores of rupees” shall be substituted.]

Where this provision sits

Act	The Contingency Fund of India Act, 1950
Section	2
Marginal note	Establishment of the Contingency Fund of India.
Jurisdiction	Central
Status	In force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

other, Act 18 of 2005. . Section 2 numbered as sub-section (1) by Act 18 of 2005, s. 115 (w.e.f. 13-5-2005).
substituted, Act 81 of 1976. .Subs. by Act 81 of 1976 “thirty crores of rupees” (w.e.f 26-8-1976).
inserted, Act 18 of 2005. . Ins. by Act 18 of 2005, s. 115 (w.e.f. 13-5-2005).
inserted, Act 13 of 2021. . Ins. by Act 13 of 2021, s. 127 (w.e.f. 28-3-2021).
substituted, Act 4 of 1998. . Subs. by Act 4 of 1998, s. 2 “for Proviso” (w.e.f. 26-12-1997).

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