Vote on Account definition

Vote on Account. - means a Grant made in advance by the Assembly before the commencement of the ensuing financial year, in pursuance of Article 206(1) (a) of the Constitution in respect of the estimated expenditure for a part of new financial year, pending the completion of the procedure relating to the voting of the Demands for Grants and the passing of the Appropriation Act.
Vote on Account means a special provision by which the Council shall obtain the vote of the Assembly for an amount sufficient to incur expenditure on various items for a part of the year.
Vote on Account means a grant in advance made by the Legislative Assembly under Article 206 of the Constitution pending completion of the detailed procedure as prescribed in Articles

Examples of Vote on Account in a sentence

  • The expenditures incurred in accordance with the Vote on Account Act shall be included in the Appropriation Bill.

  • Legitimate uses of the Fund include instances where expenditure exceeds the amount provided in the Vote on Account, or where expenditure is required on a new service before there is an opportunity to present a Supplementary Estimate.

  • These Acts have a similar function to the Appropriation Act, but relate to the Supplementary Estimates and the Vote on Account.

  • The Vote on Account provides the authority for Departments to finance existing services during the early months of a Financial Year, pending Parliament’s consideration of the Main Supply Estimates for that year.

  • The amounts in the Vote on Account are generally 45% of amounts already voted for corresponding services in the current year, both resource and cash.

  • Vote on Account represents Grants sanctioned by the Parliament in advance for the short period.

  • In the Main Estimate, it also shows the level of resources and cash which have already been allocated to the Department in the Vote on Account (see below).

  • A Vote on Account Bill shall not be submitted until the estimates of revenues and expenditures have been presented in accordance with the provisions of Article 77 and the amounts involved in the Vote on Account shall not exceed one-third of the estimate of expenditures for the financial year.

  • Whenever a Vote on Account is taken, the Departments and other competent officers may issue administrative approval and financial sanctions for the schemes specifying clearly in the order that the expenditure will be limited to the provision available in the Vote on Account.

  • After the budget is presented in the Legislature and the Finance Minister’s speech is over, the Legislature passes the Vote on Account authorizing expenditure for the first four months of the financial year.


More Definitions of Vote on Account

Vote on Account means an estimate of resources, capital and cash to allow existing services to continue operating during the early months of a financial year, pending Parliament's consideration of main Estimates.
Vote on Account means a grant in advance made by the Legislative Assembly under Section 83 of the Constitution pending completion of the detailed procedure as prescribed in Section 80 of the Constitution relating to the voting of grants and passing of the Appropriation Bill before the commencement of the Budget Year.

Related to Vote on Account

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Collection Accounts As defined in Section 3.10(a).

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Direct Account : means any Account which is not an ISA Account.

  • Note Account As defined in the Indenture.

  • Administration Account As defined in Section 7.02.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Retention Account means an interest bearing Dollar account of the Borrowers opened or (as the context may require) to be opened jointly by the Borrowers with the Account Bank and includes any sub-accounts thereof and any other account designated in writing by the Agent to be a Retention Account for the purposes of this Agreement;

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Interest Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Excess Interest Distribution Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(e) of this Agreement in trust for the Holders of the Excess Interest Certificates, which (subject to changes in the identities of the Certificate Administrator and/or the Trustee) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Class S – Excess Interest Distribution Account.” Any such account shall be an Eligible Account. The Excess Interest Distribution Account shall be held solely for the benefit of the Holders of the Excess Interest Certificates. The Excess Interest Distribution Account shall not be an asset of any Trust REMIC, but rather shall be an asset of the Grantor Trust.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Series Distribution Account shall have the meaning specified in Section 8.

  • Investment Account As defined in Section 3.12(a).

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Redemption Account means, in respect of ETP Securities, a bank account to receive payments in the Relevant Currency of the Optional Redemption Amount in respect of the redemption of such ETP Securities, which account shall be:

  • Principal Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.