Fund of the Corporation.

Infrastructure199967 sections7 chapters

Chapter VI FINANCE, ACCOUNTS AND AUDIT

Statutory text

(1) The Corporation shall have and maintain its own fund, to which shall be credited,—
- (a) all moneys received by the Corporation from the State Government by way of grants, subventions, loans, advances and the loans raised under this Act;
- (b) all fees, costs and charges received by the Corporation under this Act;
- (c) all moneys received by the Corporation from the disposal of lands, buildings and other properties, movable and immovable and other transactions;
- (d) all moneys received by the Corporation by way of water charges, rents and profits or from any other source.
(2) The Corporation may keep current and deposit account with the State Bank of India or any other Bank approved by the State Government in this behalf.
(3) Such accounts shall be operated by such officers of the Corporation as may be authorised by it in this behalf.
(4) Notwithstanding anything contained in sub-sections (2) and (3), the Corporation may keep on hand such sum as it thinks fit for its day to day transactions, subject to such limits and conditions as may be prescribed.

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