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The Meghalaya Ceiling on Government Guarantees Act, 2025 (Act No. 5 of 2025)

Meghalaya

An Act to provide for regulation of Government guarantees and other matters connected therewith or incidental thereto. Preamble: WHEREAS it is expedient to provide for regulation of Government guarantees issued on behalf of the Government Departments, Public Sector Undertakings, Local Authorities, Statutory Boards & Corporations and Cooperative Institutions and for promoting fiscal discipline of the State;

Act number
5 of 2025
Ministry
Meghalaya Law Department
Department
Law Department
Enacted
20 Mar 2025
In force from
24 Mar 2025

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

9 sections

  1. Section 1Short title, extent and Commencement.
  2. Section 2Definition
  3. Section 3Ceiling on Government Guarantees.
  4. Section 4Restrictions on Government Guarantees.
  5. Section 5Risk Categorization.
  6. Section 6Guarantee Fee
  7. Section 7Guarantee Redemption Fund.
  8. Section 8Responsibility of the Administrative Department.
  9. Section 9Power of Government to make rules.