Standing Order No. 2501/2024 of the Finance Department, Government of Karnataka dated 13th November, 2024 on the holding of a Government guarantee [C1D-SFV]

Standing Order No. 2501/2024

GOVERNMENT OF KARNATAKA

Finance Department, Government of Karnataka

Bengaluru, dated the 13th November, 2024

STANDING ORDER

To

All Budget Officers,

Subject: The holding of a Government guarantee by guarantee holders under the Karnataka Transparency in Public Procurements Act, 1999, regarding.

In exercise of the powers conferred by section 9 of the Karnataka Transparency in Public Procurements Act, 1999 (Karnataka Act 29 of 1999), the Finance Department, Government of Karnataka 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 12-A to the Procurement Authority within sixty days, accompanied by a fee of five thousand rupees.

3. The Budget Officer shall ensure that account is dealt with as directed above, and shall report compliance to the Procurement Authority within sixty days.

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

(Secretary to Government)