Funds Public - Law Dictionary Search Results
Home Dictionary Name: funds publicFunds, 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...
Total liabilities
Total liabilities, means the liabilities under he Consolidated Fund of India and the public account of India. [Fiscal Responsibility and Budget Management Act, 2003 (39 of 2003), s. 2(f)]Means the liabilities under the consolidated fund of the State of Gujarat and the public account of the State. [Gujarat Fiscal Responsibility Act, 2005, s. 2(i)]Means the explicit liabilities under consolidated fund of the State and the Public Account of the State including General Provident Fund. [Rajasthan Agricultural Produce Markets Act, 2005, s. 2(p)]...
Public funds
Public funds. See FUNDS....
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....
treasury
treasury pl: -sur·ies 1 a : a place in which stores of wealth are kept b : the place of deposit and disbursement of collected funds ;esp : one where public revenues are deposited, kept, and disbursed c : funds kept in such a depository 2 cap a : a governmental department in charge of finances and esp. the collection, management, and expenditure of public revenues b : the building in which the business of such a governmental department is transacted 3 cap : a government security (as a note or bill) issued by the Treasury ...
Embezzlement
The fraudulent appropriation of property by a person to whom it has been intrusted as the embezzlement by a clerk of his employers money embezzlement of public funds by the public officer having them in charge...
Unclaimed property
Unclaimed property. This devolves on the Crown at Common Law. Unclaimed property may be dealt with under the heads of (1) Government Stock, (2) Chancery Funds, (3) Stock in Public Companies, (4) Bankers' Balances, (5) Deposits with Bankers for Safe Custody, and (6) Found Property.(1) Government Stock.-The National Debt Act, 1870 (33 & 34 Vict. c. 71), ss. 51 et seq., as extended by 20 & 21 Geo. 5, c. 28, s. 49 provides that stock on which no dividend has been claimed for ten years must be transferred to the National Debt Commissioners. Lists of names in which the stock stood, with residence, description and amount of stock and date of transfer, are to be kept at the Bank of England [or Ireland, but see 13 Geo. 5, c. 2, s. 6 (d)] and at the National Debt Office, open to inspection, and also kept in duplicate at the National Debt Office. The stock may be re-transferred to persons showing title after, in the case of stock exceeding 20l., three months' public notice by advertisement. A sec...
Public authority
Public authority, in the policy statement is not a term of art. It must be construed in a purpose way, taking particular account of the context, McFarland HL(NI) (in re:), (2004) 1 WLR 1289.Is a body, not necessarily a country council, municipal corporation or other local authority, which has public or statutory duties to perform and which perform those duties and carries out its transactions for the benefit of the public and not for private profit, Halsbury's Laws of England, 3rd Edn., Vol. 30, p. 682.Means any authority or body established or con-stituted,--(i) by or under the Constitution;(ii) by any law made by the appropriate Government,and includes any other body owned, controlled or substantially financed by funds provided directly or indirectly by the appropriate Government. [Freedom of Information Act, 2002 (5 of 2003), s. 2(f)]Public Authority--Karnataka University being an authority under Article 12 of the constitution is covered by the definition of public authority, Shivan...
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...
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...
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