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...
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)....
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)...
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....
Charged on and paid out of the consolidated fund
Charged on and paid out of the consolidated fund, The words 'charged on and paid out of the consolidated fund' in Article 291 mean that the sum shall not be submitted to the vote of Parliament, and Article 113(1) makes a provision to that effect. Article 291 does not by itself create any independent right of any Ruler to be paid any sum out of any charged fund, H.H. Maharajadhiraja Madhav Rao Jivaji Rao Scindia Bahadur of Gwalior v. Union of India, (1973) 3 SCR 9: (1971) 1 SCC 85: AIR 1971 SC 530....
Consolidated Fund of the United Kingdom
Consolidated Fund of the United Kingdom, a repository of public money, which now comprises the produce of customs, excise, stamps, and several other taxes, and some small receipts from the royal hereditary revenue, surrendered to the public use. It constitutes almost the whole of the public income of the United Kingdom of Great Britain and Ireland. See 56 Geo. 3, c. 98. This fund is pledged for the payment of the whole of the interest of the national debt of Great Britain and (now Northern) Ireland (see s. 6 of the National Debt Act, 1870); and besides this is liable to several other specific charges imposed upon it at various periods by Act of Parliament, such as the civil list, and the salaries of the judges and ambassadors and other high official persons; after payment of which the surplus is to be indiscriminately applied to the service of the United Kingdom under the direction of Parliament. See 10 & 11 Geo. 5, c. 57, and as to Northern Ireland (establishment of separate consolida...
Life insurance fund
Life insurance fund, The life insurance fund as defined in s. 10(2) is an absolute security of the life policy-holders and cannot be used in any manner. The words 'life insurance fund' have a definite meaning under the Insurance Act under s. 10(2), read with s. 11 and form D of the Insurance Act, Life Insurance Corporation of India v. Crown Life Insurance Co., AIR 1965 SC 1985 (1987): (1965) 3 SCR 474. [Life Insurance Corporation Act, 1956]...
Member of the Fund
Member of the Fund, means an advocate admitted to the benefits of the fund and who continues to be a member thereof under the provisions of this Act. [Advocates Welfare Fund Act, 2001 (45 of 2001), s. 2(i)]...
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