Cancellation or modification of arrangement binding permanently or for a number of years

Cancellation or modification of arrangement binding permanently or for a number of years.- Where a Council has entered into any arrangement or made any promise, purporting to bind it or its successors for a number of years or for an unlimited period, to continue to any educational or charitable institutions, a yearly contribution from the Municipal property or fund, it shall be lawful for the Council or its successors with the sanction of the State Government to cancel such arrangement or promise, or to discontinue, or to diminish such yearly contribution: