section 18
State Government to provide initial capital
Backward Classes Development Corporation Act, Gujarat Year 1985General198529 of 29 sections available5 chapters
Chapter IV FINANCE, ACCOUNTS AND AUDIT
Statutory text
- (1) The State Government may provide to the Corporation such sum not exceeding 12[fifty crores of rupees] as the State Government may think fit as capital that may be required by the Corporation for the purpose of carrying out its functions: Provided that where the capital initially provided is less than 12[fifty crores of rupees] the State Government may from time to time increase the capital to sum not exceeding 12[fifty crores of rupees].
- (2) Such capital may be provided subject to such terms and conditions as may be determined by the State Government.
- (3) The Capital so provided shall form part of the fund of the Corporation.
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