Executive Summary:
The document is the Appropriation Railways No. 2 Act, 2017, published by the Ministry of Law and Justice. It received the President's assent on March 31, 2017. The Act authorises the payment and appropriation of funds from the Consolidated Fund of India for Railway services for the financial year 2016-17. It also includes corrigenda to the Insolvency and Bankruptcy Code, 2016.
Key Points / Main Content:
Appropriation Railways No. 2 Act, 2017:
* Act authorises payments from the Consolidated Fund of India for Railway services during the financial year 2016-17.
* Authorises a total of Rs. 4777,20,20,000 for various Railway services.
* Specifies appropriation of funds for:
* Repairs and Maintenance of Permanent Way and Works (Rs. 21,54,000).
* Repairs and Maintenance of Plant and Equipment (Rs. 21,45,000).
* Operating Expenses-Fuel (Rs. 3050,00,00,000).
* Miscellaneous Working Expenses (Rs. 11,80,26,000).
* Assets-Acquisition, Construction and Replacement - Other Expenditure Capital (Rs. 1690,28,68,000 - including Voted and Charged amounts).
* Railway Funds (Rs. 7,59,55,000).
* Railway Safety Fund (Rs. 17,08,72,000).
Corrigenda to the Insolvency and Bankruptcy Code, 2016:
* Lists specific corrections to page numbers, line numbers, and text within the Insolvency and Bankruptcy Code, 2016.
* Corrections range from marginal heading amendments to adjustments of words, figures, and bracket placements.
Impact Analysis:
Parliament:
* Impact: Enacted the Appropriation Railways No. 2 Act, 2017, authorising fund allocation.
* Action Required: Oversight of appropriated funds to ensure proper allocation and utilization for Railway services.
Ministry of Law and Justice:
* Impact: Responsible for publishing the Act and the corrigenda to the Insolvency and Bankruptcy Code.
* Action Required: Ensure the Act and corrigenda are accurately disseminated and implemented.
Railway Authorities:
* Impact: Receive allocated funds for various services and projects as specified in the Schedule.
* Action Required: Utilize the appropriated funds efficiently and effectively for the designated Railway services during the financial year 2016-17.
General Public:
* Impact: Benefits from the proper functioning and maintenance of Railway services.
* Action Required: No direct action required.
Stakeholders of the Insolvency and Bankruptcy Code, 2016:
* Impact: The corrections ensure accuracy and clarity of the Code.
* Action Required: Take note of the corrections for correct interpretation and application of the Code.
Key Entities Referenced
Ministry of Law and Justice Legislative Department: A department of the Government of India responsible for legislative affairs.
Appropriation Railways No. 2 Act, 2017: An Act of Parliament authorizing payment and appropriation of funds from the Consolidated Fund of India for Railways.
Parliament: The legislative body of the Republic of India.
Republic of India: The sovereign state of India.
Consolidated Fund of India: A fund of the Government of India where all revenues received and expenditures made are lodged.
Railways: The railway services in India, for which funds are being appropriated.
financial year 201617: The financial year for which the appropriation is being made.
Insolvency and Bankruptcy Code, 2016: An act to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of value of assets.
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Separate paging is given to this Part in order that it may be filed as a separate compilation.
MINISTRY OF LAW AND JUSTICE
(Legislative Department)
New Delhi, the 31st March, 2017/Chaitra 10, 1939 (Saka)
The following Act of Parliament received the assent of the President on the
31st March, 2017, and is hereby published for general information:—
THE APPROPRIATION (RAILWAYS) No. 2 ACT, 2017
NO. 9 OF 2017
[31st March, 2017.]
An Act to authorise payment and appropriation of certain further sums from and
out of the Consolidated Fund of India for the services of the financial year
2016-17 for the purposes of Railways.
BE it enacted by Parliament in the Sixty-eighth Year of the Republic of India as follows:—
1. This Act may be called the Appropriation (Railways) No. 2 Act, 2017. Short title.
2. From and out of the Consolidated Fund of India there may be paid and applied Issue of Rs.
sums not exceeding those specified in column 3 of the Schedule amounting in the aggregate 4777,20,20,000
to the sum of four thousand seven hundred seventy-seven crore, twenty lakh and twenty out of the
Consolidated
thousand rupees towards defraying the several charges which will come in course of payment
Fund of India
during the financial year 2016-17 in respect of the services relating to Railways specified in for the
column 2 of the Schedule. financial year
2016-17.
3. The sums authorised to be paid and applied from and out of the Consolidated Appropriation.
Fund of India by this Act shall be appropriated for the services and purposes expressed in
the Schedule in relation to the said year.2 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—
THE SCHEDULE
(See sections 2 and 3)
1 2 3
No. Sums not exceeding
of Services and purposes Voted Charged
Vote by Parliament on the Total
Consolidated
Fund
Rs. Rs. Rs.
4 Repairs and Maintenance of Permanent Way and Works..... .. 21,54,000 21,54,000
7 Repairs and Maintenance of Plant and Equipment............... .. 21,45,000 21,45,000
10 Operating Expenses—Fuel .................................................... 3050,00,00,000 .. 3050,00,00,000
12 Miscellaneous Working Expenses.......................................... .. 11,80,26,000 11,80,26,000
16 Assets—Acquisition, Construction and Replacement—
Other Expenditure
Capital .................................................................................... 1519,45,25,000 170,83,43,000 1690,28,68,000
Railway Funds........................................................................ .. 7,59,55,000 7,59,55,000
Railway Safety Fund.............................................................. .. 17,08,72,000 17,08,72,000
TOTAL: 4569,45,25,000 207,74,95,000 4777,20,20,000
————
DR. G. NARAYANA RAJU,
Secretary to the Govt. of India.SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 3
CORRIGENDA
In the Insolvency and Bankruptcy Code, 2016 (No. 31 of 2016), as published in the
Gazette of India, Extraordinary, Part II, Section 1, Issue No. 37, dated 28th May, 2016,—
Page No. Line(s) No. For Read
29 Marginal Heading of Section 51 “extorionate” “extorionate”
32 33 omit “line 33”
35 19 omit “Civil court not to have jurisdiction”
35 Marginal Heading of Section 65 “intiation” ”initiation”
38 20 “the” “he”
40 28 “sub-section,” “clause,”
49 29 “of the such” “of such”
57 34 “sections 122 or 123” “section 122 or section 123”
59 16 “in the such” “in such”
96 41 “filling” “filing”
100 12 “words and figures” “words, figures and brackets”
100 19 “AMENDMENT” “AMENDMENTS”
101 19 “words and figures” “words, figures and brackets”
102 10 “words and figures” “words, figures and brackets”
102 13 “words and figures” “words, figures and brackets”
102 33 “words” “words and figures”
102 34 “words” “words and figures”
103 6 “6A.” “7.”
103 7. “words” “words and figures”
103 10 “words” “words and figures”
103 13 “7.” “8.”
103 17 “8.” “9.”
103 18 “9.” “10.”
103 21 “10.” “10.’
105 6 “15A.” “16.”
105 7 “16.” “17.”
105 8 “17.” “18.”
105 9 “18.” “19.”
106 14 “19.” “20.”
106 26 “20.” “21.’
106 33 “21.” “22.”
106 38 “22.” “23.”
106 42 “23.” “24.”
106 44 “24.” “25.”
106 45 “25.” “26.”
107 16 “26.” “27.”
107 20 “27.” “28.”
107 33 “28.” “29.”
107 37 “29.” “30.”
107 38 “words” “words and figures”
107 40 “30.” “31.”
107 40 “words” “words and figures”
107 42 “31.” “32.”
107 48 “32.” “33.”
108 1 “words” “words and figures”
108 3 “words” “words and figures”
108 5 “33.” “34.”
108 19 “34.” “35.”
109 1 “35.” “36.”
109 21 “36.” “37.”
UPLOADED BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PRESS, MINTO ROAD, NEW DELHI–110002
AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI–110054.
GMGIPMRND—5758GI—31-03-2017.