Municipal fund to be in Government treasury, etc., and operation of accounts.

Infrastructure1973318 of 312 sections available1 chapters

Chapter IX FINANCE

Statutory text

(1) All moneys received by the council shall be lodged in the nearest Government treasury or, with the sanction of the Government in a bank: Provided that the municipal council may, with the sanction of the Government, invest any sums not required for immediate use either in a Government savings bank or in Government securities or in any other security which may be approved by the Government.
(2) All orders or cheques against the municipal fund shall be signed by the Commissioner or by some person duly authorised in this behalf by him. The treasury or bank in which the fund is lodged shall, so far as the funds to the credit of the council admit, pay all orders or cheques against the fund which are so signed.
(3) If the council shall have given previous authority in writing such treasury or bank may at once pay out of the municipal fund without such order or cheque any expense, which the Government have incurred on behalf of the council. The section came into force on the 26th day of January, 1974 vide Extraordinary Gazette No. 11, dated 17th January, 1974.

Study data processing for this section.

Some statutory text is still being prepared for this language version.

PDF: pending for this language.