Funds of Authority

(1) The Authority shall have and maintain its own fund to which shall be credited - (a) an initial corpus of such sum, as may be determined and provided by the State Government; (b) all moneys received or due to be received, prior to the commencement of the Act by the State Government and unspent at the time of commencement of this Act on account of proportionate development charges for external development work in the notified area, payable by the owner granted a licence under the Haryana Development and Regulation of Urban Areas Act, 1975 (8 of 1975); (c) all moneys received or due to be received, prior to the commencement of this Act by the State Government and unspent at the time of commencement of this Act on account of infrastructure development charges levied, in the notified area, under sub-section (1) of section 3A of the Haryana Development and Regulation of Urban Areas Act, 1975 (8 of 1975) and payable by the owner granted a licence under the said Act; (d) such share of moneys collected by the Municipal Corporation, Panchkula prior to the commencement of this Act and deposited with the State Government, as the State Government may determine;