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1[2. Definition.-- In this Act, the expression "distributable Union duties of excise" means 2[fortyseven and a half per cent.] of the net proceeds of Union duties of excise, levied and collected under the
Central Excises and Salt Act, 1944 (1 of 1944) and any other law for the levy and collection of such duty,
unless the law earmarks the proceeds of the duty for any special purpose.
Explanation.-- The expression "net proceeds" has the same meaning as in clause (1) of article 279 of
the Constitution.]
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1. Subs. by Act 17 of 1989, s. 3, for sections 2 and 3 (w.e.f. 1-4-1989).
2. Subs. by Act 31 of 1995, s. 3, for "forty-five per cent." (w.e.f. 1-4-1995).