MEGHALAYA FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2006

Preamble - THE MEGHALAYA FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2006

THE MEGHALAYA FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2006

[Act No. 0 2 of 2007]

[9th January, 2007]

PREAMBLE

An Act to amend the Meghalaya Fiscal Responsibility and Budget Management Act, 2006.

Be it enacted by the Legislature of the State of Meghalaya in the Fifty-Seventh Year of the Republic of India as follows:

Section 1 - Short title and commencement

(1)     This Act may be called the Meghalaya Fiscal Responsibility and Budget Management (Amendment) Act, 2006.

 

(2)     It shall be deemed to have come into force on and from 1st November, 2006.

Section 2 - Amendment of Section 4 of Act No. 4 of 2006

In Section 4 of the Meghalaya Fiscal Responsibility and Budget Management Act, 2006, in sub-section (1). for clause (a), the following new clause (a) shall be substituted, namely: -

"(a) Maintain revenue surplus at least at the same level as determined by the Twelfth Finance Commission for the base year 2003-2004".

Section 3 - Repeal

The Meghalaya Fiscal Responsibility and Budgez Management (Amendment) Ordinance, 2006 (Ordinance No 1 of 2006) is hereby repealed.