Section 40, President's Emoluments and Pension Act, 1951 [S1A-ZFN]

As at 6 September 2026. In force from 13 May 1953 by S.O. 2142(E) [N11-JR4].

In President's Emoluments and Pension Act, 1951 [A10-D5C]. This text from 13 May 1953. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 40, President's Emoluments and Pension Act, 1951 [S1A-ZFN]. Machine: S1A-ZFN.

40. Prohibition of the drawing and disbursement of funds without licence.—No person shall undertake the drawing and disbursement of funds except under and in accordance with the conditions of a licence granted under section 41: Provided that nothing in this section shall apply to the drawing and disbursement of funds undertaken by or on behalf of the Central Government or a State Government.

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