Standing Order No. 2320/2008 of the Finance Department, Government of Maharashtra dated 9th October, 2008 on the holding of a Government guarantee [C18-KDZ]

Standing Order No. 2320/2008

GOVERNMENT OF MAHARASHTRA

Finance Department, Government of Maharashtra

Mumbai, dated the 9th October, 2008

STANDING ORDER

To

All Procurement Officers,

Subject: The holding of a Government guarantee by guarantee holders under the Maharashtra Fiscal Responsibility and Budgetary Management Act, 2005, regarding.

In exercise of the powers conferred by section 9 of the Maharashtra Fiscal Responsibility and Budgetary Management Act, 2005 (Maharashtra Act 15 of 2005), the Finance Department, Government of Maharashtra hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the holding of a Government guarantee by guarantee holders.

2. The matter has been examined. Every guarantee holder carrying on the holding of a Government guarantee shall make an application in Form GFR 40 to the Finance Commission within seven days, accompanied by a fee of ten thousand rupees.

3. The Procurement Officer shall ensure that voucher is dealt with as directed above, and shall report compliance to the Finance Commission within seven days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Finance Department, Government of Maharashtra.

(Secretary to Government)