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TypeBare Act JurisdictionCentral Government

Finance Act, 2008 Section 159

Payments from certain Exchequer accounts: mechanism

~1 min read
https://sooperkanoon.com/act/455968

Bare act section · Research

About this section

Finance Act, 2008 Section 159 is part of Finance Act, 2008 - Payments from certain Exchequer accounts: mechanism. Read the section text below and explore Indian court judgments that cite it.

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Section Text

1) This section applies to money to be paid under section 158 from-

(a) the Consolidated Fund, or (b) the National Loans Fund.

(2) In the case of the Consolidated Fund-

(a) the Comptroller and Auditor General shall on receipt of a requisition from the Treasury grant a credit on the Exchequer Account at the Bank of England (or on its growing balance), and (b) an issue shall be made on orders given to the Bank by the Treasury in accordance with a credit granted under paragraph (a).

(3) An issue made under subsection (2) shall be recorded in the daily account under section 15(5) of the Exchequer and Audit Departments Act 1866 (c. 39).

(4) In the case of the National Loans Fund-

(a) the Comptroller and Auditor General shall at the request of the Treasury grant a credit on the National Loans Fund, and (b) a payment out of the Fund shall be made by the Treasury in accordance with a credit granted under paragraph (a).

(5) A payment made under subsection (4) shall be recorded in the daily account under section 1(2) of the National Loans Act 1968 (c. 13).

Frequently asked questions

What does Finance Act, 2008 Section 159 provide?

Section Section 159 of the Finance Act, 2008 (Payments from certain Exchequer accounts: mechanism) is reproduced on this page as part of the Finance Act, 2008. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 2008 Section 159?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2008 Section 159. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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