section 21
Loans Fund.
The Maharashtra Metropolitan Region Development Authority Act, 2016General201651 sections8 chapters
Chapter V FINANCE, BUDGET AND ACCOUNTS
Statutory text
- (1) As apart of the Metropolitan Region Development Fund, the Metropolitan Authority shall establish in distinct Bank accounts a Loans Fund for the purposes of,-
- (a) receiving all monies borrowed by it including all repayments of loan instalments together with payment of interest made by the borrower on loans,
- (b) providing all moneys to be made available by the Authority as loans or advances to local authorities and other authorities or persons,
- (c) repayment of loans raised by the Authority for the purpose of this Act, and
- (d) expenditure on projects and schemes.
- (2) All matters connected with the Loans Fund shall be governed by the regulations made in this behalf.
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