Section 2 in The Gujarat State Guarantees Act, 1963
2. Fixation of limit upto which the State may give guarantees.
- The limit upto which the executive power of the State Government shall extend to the giving of guarantees (including the guarantees given before the commencement of this Act) as provided in clause (1) of article 293 of the Constitution shall be the sum of [Rs. 200,00,00,00,000] [Substituted for 'Rs. 160,00,00,00,000' by Gujarat 5 of 2001, dated 30th March 2001].[2) The State Government shall within a period of six months from the end of the financial year in which any guarantees are given, lay before the Legislative Assembly of the State-(a)a statement of guarantees which may have been given during that year, and(b)an account of the local sums which during that year may have been either issued out of the Consolidated fund of the State to meet with liabilities arising out of the guarantees so given or paid in or towards repayment of the same so issued:Provided that of the Legislative Assembly of the State is not in session or is not sitting on the date on which the said period of six months expires, the said period of six months shall be deemed to expire on the first day on which the Legislative Assembly first sits after the aforesaid date.] [Sub-section (2) substituted by Gujarat 8 of 1977, dated 11th July 1977.]
