Fund - Law Dictionary Search Results
Home Dictionary Name: fundfund
fund 1 : a sum of money or other resources whose principal or interest is set aside for a specific objective cli·ent security fund : a fund established by each state to compensate clients for losses suffered due to their attorneys' misappropriation of funds common trust fund : an in-house trust fund established by a bank trust department to pool the assets of many small trusts for greater diversification in investing executor fund : a fund established in estate planning to provide for the payment of final expenses by an executor joint wel·fare fund : a fund that is established by collective bargaining to provide health and welfare benefits to employees and that is jointly administered by representatives of labor and management paid-in fund : a reserve cash fund in lieu of a capital stock account set up by mutual insurance companies to cover unforeseen losses sink·ing fund : a fund set up and accumulated by regular deposits for paying off the principal on a debt...
Funds, public
Funds, public, the name given to the public funded debt due by Government. The practice of borrow-ing money to defray a part of the war expenditure began, with us, in the reign of William III. In the infancy of the practice it was customary to borrow upon the security of some tax, or portion of a tax, set apart as a fund for discharging the principal and interest of the sum borrowed. This discharge was rarely effected. The public exigencies still continuing, the loans were continued, or the taxes again mortgaged for fresh ones. At length the practice of borrowing for a fixed period, or, as it is called, upon terminable annuities, was abandoned, and loans made upon interminable annuities, or until it might be convenient for the Government to pay off the principal. Such loans are called Funded Debt, or 'The Funds'; loans for a fixed period are said to be 'Unfunded'.In the beginning of the funding system the term 'fund' meant the taxes or funds appropriated to the discharge of the princip...
Fund
Fund, the word 'fund' may, mean actual cash resources of a particular kind (e.g., money in a drawer or a bank), or it may be a mere accountancy expression used to describe a particular category which a persons uses in making up his accounts, R.K. Dalmia v. Delhi Administration, AIR 1962 SC 1821 (1834).Means the Building and Other Construction Workers' Welfare Fund of a Board constituted under sub-s. (1) of s. 24, See also Building and Other Construction Workers' Welfare Cess Act, 1996 (28 of 1996), s. 2(b), Building and Other Construction Workers' (Regulation of Employment and Conditions of Service) Act, 1996 (27 of 1996), s. 2(1)(k).A sum of money or other liquid assets established for a specific purpose, Black's Law Dictionary, 7th Edn., p. 682.Means the fund of the institute to be maintained under s. 19, National Institute of Fashion Technology Act, 2006, s. 2(f).Means the advocates' welfare fund constituted under sub-section (1) of s. 3, Advocates Welfare Fund Act, 2001, s. 2(g)....
Consolidated fund
Consolidated fund, is the foundation stone of Parliamentary supervision and control over the finances in England, Commentary on Constitution of India, Durga Das Basu, Vol k, 6th Edn., p. 242.In India, the union as well as each of the States has a Consolidated Fund; the fund of the union is called the Consolidated Fund of India and that of a State that the Consolidated Fund of the State, Constitution of India, Art. 266(1)....
Mercantile Marine Fund
Mercantile Marine Fund, a fund consisting, under ss. 676-679 of the (English) Merchant Shipping Act, 1894, of the fees paid on survey and measurement of ships, money arising from unclaimed property of deceased seamen, fees received by receivers of wreck, light dues, etc., etc., and applicable to the payment of salaries of mercantile marine officers, etc., under the Act. The 'General Lighthouse Fund' is substituted for the Mercantile Marine Fund by the (English) Merchant Shipping (Mercantile Marine Fund) Act, 1898 (61 & 62 Vict. c. 44)....
Borough Funds Acts
Borough Funds Acts. The (English) Borough Funds Act, 1872 (35 & 36 Vict. c. 91) (commonly called Leeman's Act), authorized borough councils and governing bodies of other urban districts to apply public funds under their control to promoting or opposing bills in Parliament or to prosecute or defend legal proceedings in the interest of their constituents, but will not allow of their indemnifying the chief constable for costs he has incurred in opposing a licensing appeal at Quarter Sessions, Tynemouth Corporation v. A.-G., 1899 AC 293; and the Borough Funds Act, 1903 (3 Edw. 7, c. 14), has materially amended that Act by requiring the resolutions of councils to promote bills to be submitted to public meetings, and dispensing with the consent of owners and rate-payers to incurring expense in opposing bills. See now the (English) Local Government Act, 1933 (23 & 24 Geo. 5, c. 51), ss. 254 et seq., which consolidates and amends both the 1872 and 1903 Acts, but does not apply to London. See C...
Contingency Fund
Contingency Fund, is a fund placed at the disposal of the executive to meet the unforeseen expenditure, Dictionary of Constitutional and Parliamentary Terms, Lok Sabha Secretariate, 2005 Edn., p. 98.Contingency Fund, is established and regulated by law made by Parliament and Contingency fund of a State by the Legislature of that State, Constitution of India, Art. 267(1) and (2)...
Dormant funds
Dormant funds, funds in Court which have not been dealt with for fifteen years. See R.S.C. Ord. XXII., r. 11, as to service on the Official Solicitor; (English) Supreme Court Funds Rules, 1927, r. 96. As to triennial publication of list of funds, see UNCLAIMED PROPERTY....
Patriotic Fund
Patriotic Fund. A fund originally formed in 1854 for the relief of the families of men who fell in the Crimean War. The fund is now controlled by the provisions of the Patriotic Fund Reorganisation Act, 1903. See PENSIONS....
Road fund
Road fund. A fund established under s. 3 of the Roads Act, 1920, for dealing with moneys applicable to the improvement of roads received under the Act, and also under Part II. of the Development and Road Improvement Funds Act, 1909. The Fund is administered by the Ministry of Transport in accordance with these Acts and regulations made by the Treasury....
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