Karnataka Contingency Fund (Amendment) Act, 2020

Oct 16, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The State Government of Karnataka on October 15, 2020 has published the Karnataka Contingency Fund (Amendment) Act, 2020 further to amend the Karnataka Contingency Fund Act, 1957. The Act shall be deemed to have come into force with effect from July 14, 2020. The purpose of the amendment is to increase the threshold of contingency fund for emergency situations such as epidemic diseases, natural calamities etc. The amendment is made in section 2 whereby the limit of contingency fund has been increased from Rs 80 crore to Rs 500 crore.

[Notification no- DPAL 62 SHASHANA 2020]

 


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