Expenditure from funds.

General200759 sections6 chapters

Chapter IV Chapter IV

Statutory text

(1) The Corporation shall have the authority to spend such sums as it thinks fit for the purposes authorised under this Act from and out of the general fund of the Corporation referred to in section 18 or from the reserve and other funds referred to in section 22, as the case may be.
(2) Without prejudice to the generality of the power conferred by sub-section (1), the Corporation may contribute such sums as it thinks fit towards expenditure incurred or to be incurred by any local authority or statutory public undertaking in the performance of the statutory functions of such authority or undertaking, including expenditure incurred in the acquisition of land.

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