(1) This Act may be called the Meghalaya Natural Calamities Relief Fund Act, 1980.
In this Act, unless the context otherwise requires, “Fund” means the Meghalaya Natural Calamities Relief Fund established under Section 3.
On the commencement of this Act, the State Government shall establish in an for the State of Meghalaya a Fund to be called the Meghalaya Natural Calamities Relief Fund which shall consist of :-
As soon as may be after the commencement of this Act, the State Government shall make an initial contribution, to the Fund of a sum of Rupees ten lakhs from the head “289-Relief on account of Natural Calamities” from the budget for the year 1981-82 or the unspent balance thereof on the 31st March, 1981 and thereafter make an annual contribution of the sum equal to the margin money recommended by the Finance Commission.
Withdrawal from the Fund shall not be made except to cover the expenditure on relief of distress caused by flood, cyclone, hailstorm, drought, earthquake, or the calamities as may be notified by the State Government for the purpose.
The State Government shall, from time to time invest or reinvest in easily encashable securities all amounts which may not be immediately required for any of the purposes mentioned in section 5 and the interest accrued thereon to the credit of the Fund.
(1) The accounts of the Fund shall be made up at the end of each financial year in a proforma account as may be prescribed by rules made under this Act.
The State Government may make rules for carrying out the purposes of this act.
The Assam Famine Relief and Insurance Fund Act 1948 is hereby repealed.