Jammu and Kashmir State Finance Commission Act, 2006
No: 18 Dated: Jan, 01 2006
THE JAMMU AND KASHMIR STATE FINANCE COMMISSION ACT, 2006
(Act No. XVIII of 2006)
An Act to provide for ensuring equitable development of all regions in the State by equitable distribution of resources available for development and making good backlog of development and employment at the regional and district levels in the State of Jammu and Kashmir.
Be it enacted by the Jammu and Kashmir State Legislature in the 57th Year of the Republic of India as follows :-
CHAPTER-I
Preliminary
1. Short title, extent and commencement. - (1) This Act may be called the Jammu and Kashmir State Finance Commission Act, 2006.
(2) It extends to the whole of State of Jammu and Kashmir.
(3) It shall come into force on such date as the Government may, by notification in Government Gazette, appoint.
2. Definitions. - In this Act unless the context otherwise requires,-
(a) "Act" means the Jammu and Kashmir State Finance Commission Act, 2006;
(b) "Commission" means the State Finance Commission constituted under section 3 of the Act;
(c) "Chairperson" means the Chairperson of the Commission;
(d) "Member" means a Member of the Commission and includes the Chairperson;
(e) "Notification" means a notification published In the Government Gazette;
(f) "Prescribed" means prescribed by rules made under the Act.
CHAPTER-II
Constitution
3. Constitution of the State Finance Commission. - (1) The Government shall constitute a body to be known as the State Finance Commission to exercise the powers conferred upon, and to perform the functions assigned to it, under the Act.
(2) The Commission shall consist of-
(a) a Chairperson who shall be an eminent economist with expertise in State finance and planning at regional level; and
(b) such other members, not exceeding eight, as the Government may appoint from amongst persons of repute having excelled in administration, spatial/regional planning, policy planning, entrepreneurship, investment, credits and legal or academic fields.
(3) The Chairperson and the Members shall be appointed by the Government by notification.
(4) There shall be a Secretary to the Commission who shall be the Chief Executive Officer of the Commission to be appointed by the Government.
(5) The Secretary shall exercise such powers and discharge such functions of the Commission as it may delegate to him.
(6) The Headquarters of the Commission shall be at such place as the Government may determine.
4. Term of office of Chairperson and Members. - (1) A person appointed as Chairman or a Member shall hold office for a period or [three years and three months] from the date on which he enters upon his office or till the Commission submits its report to the Government, whichever is earlier.