Treasury - Definition - Law Dictionary Home Dictionary Definition treasury

Definition :

Treasury, includes a sub-treasury. [Bihar Reorganis-ation Act, 2000, s. 2(l)]

Treasury. (1) The place where treasure is deposited. (2) The department of state which manages the Public Revenue. The Lord High Treasurer is properly the head of this department; but, in practice, the functions of this great official are discharged by several commissioners. The chief of these is called First Lord; and he is, by custom, the head of the Cabinet (see CABINET COUNCIL), and of the whole executive, for which he is responsible in every department. The Chancellor of the Exchequer is the second commissioner, and there are three others. There are also three secretaries to the Treasury.

A place or building in which stores of wealth are kept, esp., a place where public revenues are deposited and kept and from which money is disbursed to defray government expenses, Black's Law Dictionary, 7th Edn