পাতা:বাংলাদেশের স্বাধীনতা যুদ্ধ দলিলপত্র (প্রথম খণ্ড).pdf/৫৪২

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বাংলাদেশের স্বাধীনতা যুদ্ধ দলিলপত্রঃ প্রথম খণ্ড
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 116. Loans to and borrowing by the Provinces:- (1) Subject to the provisions of this Article the executive authority of a province shall extend to borrowing upon the security of the Provincial Consolidated Fund within such limits, if any as may be determined by Act of the Provincial Legislature, and to the giving of guarantees within such limits, If any, as may be so determined.

 (2) The Federal Government may, subject to such conditions if any, as it may think fit to impose, make loans to, or, so long as any limits determined under the last preceding Article are not exceeded give guarantees in respect of loans raised by, a Province and any sums required for the purpose of making loans to a Province shall be charged on the Federal Consolidated Fund.

 (3) A Province may not without the consent of the Federal Government borrow outside Pakistan, nor without the like consent raise any loan if there is still outstanding any part of a loan made to the Province by the Federal Government or in respect of which a guarantee has been given by the Federal Government.

 (4) A consent under this Article may be granted subject to such conditions if any as the Federal Government may think fit to impose, but no such consent shall be unreasonably withheld, nor shall the Federal Government refuse, if sufficient cause is shown, to make a loan to, or to give a guarantee in respect of a loan raised-by, a Province, or seek to impose in respect of any of the matters aforesaid any condition Which is unreasonable; and, if any dispute arises whether a refusal or consent, or a refusal to make a loan or to give a guarantee or any condition insisted upon, is or is not justifiable, the dispute shall be settled in accordance with the procedure prescribed in Article 129.


 117. Taxes on professions, trades, callings and employments.- (1) Notwithstanding anything contained in Article 106, no Provincial law relating to taxes for the benefit of a Province or of a municipality, district board, local board, or other local authority therein in respect of professions, callings or employments shall be invalid on the ground that it relates to a tax on income.

 (2) The total amount payable in respect of any one person to a Province or to any one municipality, district board, local board or other local authority in the Province by way of taxes on professions, trades, callings and employments shall not exceed fifty rupees per annum.

 (3) The fact that a Provincial Legislature has power to make laws as afore said with respect to taxes on professions, trades, callings and employments shall not be construed as limiting in relation to professions, trades, callings and employments, the generality of the entry in the Federal List relating to taxes on income.


 118. National Finance Commission.- (1) As soon as may be after the Constitution Day, and thereafter at intervals not exceeding five years, the President shall constitute a National Finance Commission consisting of the Minister of Finance of the Federal Government, the Ministers of Finance of the Provincial Governments, and such other