70. Borrowing upon the security of Consolidated Fund of Union territory of Jammu and
Kashmir.—(1) The executive power of the Union territory extends to borrowing upon the security of
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the Consolidated Fund of the Union territory of Jammu and Kashmir within such limits, if any, as
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may, from time to time, be fixed by Legislative Assembly by law and to the giving of guarantees
within such limits, if any, as may be so fixed.
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(2) Any sums required for the purpose of invoking a guarantee shall be charged on the
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Consolidated Fund of the Union territory of Jammu and Kashmir.
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More sections of this act
Section 1 · Short title.Section 2 · Definitions.Section 3 · Formation of Union territory of Ladakh without Legislature.Section 4 · Formation of Union territory of Jammu and Kashmir with Legislature.Section 5 · Governor of existing State of Jammu and Kashmir to be common Lieutenant Governor.Section 6 · Amendment of First Schedule to the Constitution.Section 7 · Saving powers of the Government of Union territory of Jammu and Kashmir.Section 8 · Amendment of Fourth Schedule to Constitution.India Code, Government of India. Text fetched 10 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.