Reduction or transfer of budget grants

(1) The standing committee for

1[taxation, finance and appeals]

2[or as the case may be, standing committee for taxation and finance] may, if it thinks necessary at any time during the year,-

1. (a) reduce the amount of a budget grant; or
2. (b) transfer and add the amount or a portion of the amount of one budget grant to the amount of any other budget grant: Provided that,-
   • (i) due regard shall be had, when making any such reduction or transfer, to all the requirements of this Act;
   • (ii) the aggregate sum of the budget grants contained in the budget estimate adopted by the corporation shall not be increased except by the corporation under section 171;
   • (iii) every such reduction or transfer shall be brought to the notice of the corporation at its next meeting.

¹ Substituted by Act 35 of 1994 Notification bringing it into force not available.

² Inserted by Act 27 of 1998 w.e.f. 21.11.1998.

1. (2) If any such reduction or transfer is of an amount exceeding rupees five hundred, the corporation may pass with regard thereto such order as it thinks fit, and it shall be incumbent on the standing committee and the