section 114
Investment of surplus money.
The Trivandrum City Improvement Trust Act, 1960Civil1960160 sections7 chapters
Chapter V FINANCE
Statutory text
- (1) Surplus moneys at the credit of the said account may from time to time be—
- (a) deposited at interest in the bank aforesaid; or
- (b) invested in such securities or debentures as may be approved by the Government.
- (2) All such deposits and investments shall be made by the Chairman on behalf of, and with the sanction of, the Board; and, with * the like sanction, the Chairman may at any time withdraw any deposit so made, or dispose of any securities, and re-deposit or re-invest the money so withdrawn or the proceeds of the disposal of such securities.
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