section 69
Constitution of Corporation Fund.
The Jammu and Kashmir Municipal Corporation Act, 2000Infrastructure2000446 sections
Statutory text
- (1) Save as otherwise provided in this Act––
- (a) all funds which, immediately before the declaration and constitution of any Corporation under sections 3 and 4 of this Act, vested in anybody or local authority of the municipal area or any part thereof, if any ;
- (b) all money received by or on behalf of the Corporation under the provisions of this Act or any law for the time being in force or under any contract ;
- (c) all proceeds of the disposal of the property by, or on behalf of the Corporation ;
- (d) all rents accruing from any property of the Corporation ;
- (e) all money raised by any tax, rate or cess levied for the purposes of this Act ;
- (f) all fees collected and all fines levied under this Act or under any rule, regulation or bye-law made thereunder ;
- (g) all money received by or on behalf of the Corporation from the Government or any individuals by way of grant or gift or deposit ;
- (h) all interest and profit arising from any investment of, or from any transaction in connection with, any money belonging to the Corporation including loans and advances under this Act ;
- (i) all money received by or on behalf of the Corporation from any other source whatsoever, shall form one Fund to be known as the Corporation Fund.
- (2) The Corporation Fund shall be held by the Corporation in trust for the purposes of this Act subject to the provisions herein contained and a general account relating to all moneys received by or on behalf of the Corporation shall be maintained.
Study data processing for this section.
PDF: pending for this language.