JKR Act 70Chapter VII · Miscellaneous and Transitional Provisions
Section 70 · Borrowing upon the security of Consolidated Fund of Union territory of Jammu and Kashmir
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(1) The executive power of the Union territory extends to borrowing upon the security of
the Consolidated Fund of the Union territory of Jammu and Kashmir within such limits, if any, as
may, from time to time, be fixed by Legislative Assembly by law and to the giving of guarantees
within such limits, if any, as may be so fixed.
(2) Any sums required for the purpose of invoking a guarantee shall be charged on the Consolidated Fund of the Union territory of Jammu and Kashmir.
(2) Any sums required for the purpose of invoking a guarantee shall be charged on the Consolidated Fund of the Union territory of Jammu and Kashmir.
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