Section 70
Borrowing upon the security of Consolidated Fund of Union territory of Jammu and Kashmir.
The Jammu and Kashmir Reorganisation Act, 2019
About this Act
An Act to provide for the reorganisation of the existing State of Jammu and Kashmir and for matters connected therewith or incidental thereto.
(1) The executive power of the Union territory extends to borrowing upon the security of
the Consolidated Fund of the Union territory of Jammu and Kashmir within such limits, if any, as
may, from time to time, be fixed by Legislative Assembly by law and to the giving of guarantees
within such limits, if any, as may be so fixed.
(2) Any sums required for the purpose of invoking a guarantee shall be charged on the Consolidated Fund of the Union territory of Jammu and Kashmir.
(2) Any sums required for the purpose of invoking a guarantee shall be charged on the Consolidated Fund of the Union territory of Jammu and Kashmir.