section 2
Establishment of Statutory Funds
The Bombay Statutory Fund Act, 1959General19597 sections
Statutory text
- (1) On the commencement of this Act there shall be established the Statutory Funds specified in Schedule A.
- (2) Subject to the provisions of this Act and the rules made thersunder, the Statutory Funds established by sub-section
- (1) shall be held and maintained on behalf of the Governor of Bombay by the Secretary to the Government of Bombay in the Finance Department.
- (3) On the date of the commencement of this Act, the amount standing to the credit of each of the Earmarked and Endowment Funds specified in Schedule B in the public account of the State shall be paid into the corresponding Statutory Fund established under sub-section (1).
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