Section 81 in The Jammu and Kashmir Reorganisation Act 2019

Title: Authorisation of expenditure of Union territory of Ladakh

Description: The Governor of existing State of Jammu and Kashmir may, at any time before the appointed day, authorise such expenditure from the Consolidated Fund of Union territory of Jammu and Kashmir as he deems necessary for any period not more than six months beginning with the appointed day pending the sanction of such expenditure by the Parliament: Provided that the President may, after the appointed day, authorise such further expenditure as he deems necessary from the Consolidated Fund of India for any period not extending beyond the said period of six months

Title: Reports relating to accounts of Jammu and Kashmir State

Description: (1) The reports of the Comptroller and Auditor-General of India referred to in clause (2) of article 151 relating to the accounts of the existing State of Jammu and Kashmir in respect of any period prior to the appointed day shall be submitted to the Lieutenant Governors of the successor Union territory of Jammu and Kashmir, and Union territory of Ladakh. (2) The Lieutenant Governor of Jammu and Kashmir, thereafter shall cause the reports to be laid before the Legislature of the Union territory of Jammu and Kashmir. (3) The Lieutenant Governor of Jammu and Kashmir may by order-- (a) declare any expenditure incurred out of the Consolidated Fund of Jammu and Kashmir on any service in respect of any period prior to the appointed day during the financial year or in respect of any earlier financial year in excess of the amount granted for that service and for that year as disclosed in the reports referred to in sub-section (1) to have been duly authorised; and (b) provide for any action to be taken on any matter arising out of the said reports.

Title: Distribution of revenue

Description: (1) The award made by the Fourteenth Finance Commission to the existing State of Jammu and Kashmir shall be apportioned between the successor Union territory of Jammu and Kashmir; and Union territory of Ladakh by the Central Government on the basis of population ratio and other parameters: Provided that on the appointed day, the President shall make a reference to the Union territories Finance Commission to take into account the resources available to the successor Union territories of Ladakh and make separate award for the successor Union territory of Ladakh: Provided further that on the appointed day, the President shall make a reference to the Fifteenth Finance Commission to include Union territory of Jammu and Kashmir in its Terms of Reference and make award for the successor Union territory of Jammu and Kashmir. (2) Notwithstanding anything in sub-section (1), the Central Government may, having regard to the resources available to the successor Union territory of Ladakh make appropriate grants and also ensure that adequate benefits and incentives in the form of special development package are given to the backward areas of this region.

Title: Application of this Part

Description: (1) The provisions of this Part shall apply in relation to the apportionment of the assets and liabilities of the existing State of Jammu and Kashmir immediately before the appointed day, between the successor Union territory of Jammu and Kashmir and successor Union territory of Ladakh. (2) The apportionment of the assets and liabilities of the existing State of Jammu and Kashmir shall be subject to the recommendations of a committee constituted by the Central Government. (3) The process of apportionment shall be completed within a period of twelve months from the appointed day.

Title: Advisory Committee(s)

Description: (1) The Central Government may by order, establish one or more Advisory Committees within a period of 90 days from the appointed day, for the purposes of: (a) apportionment of assets, rights and liabilities of the companies and corporations constituted for the existing State of Jammu and Kashmir between Union territory of Jammu and Kashmir and Union territory of Ladakh; (b) issues relating to Continuance of arrangements in regard to generation and supply of electric power and supply of water; (c) issues related to Jammu and Kashmir State Financial Corporation; (d) issues related to Companies constituted for the existing state of Jammu and Kashmir regarding the division of the interests and shares and reconstitution of Board of Directors; (e) issues related to facilities in certain State Institutions; and (f) issues related to any other matters not covered under this section. (2) The committees so appointed under sub-section (1) of this section, shall submit their reports within six months to the Lieutenant Governor of Union territory of Jammu and Kashmir, who shall act on the recommendations of such committees within a period of 30 days from the date of receiving such reports.