{"act":{"id":"assam-municipal-corporation-act-2022","short_title":"The Assam Municipal Corporation Act, 2022","long_title":null,"act_number":"8","act_year":2022,"enact_date":null,"enforcement_date":null,"ministry":null,"department":null,"jurisdiction":"Assam","unit":"section","section_count":368,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"ocr","scan_url":"https://indiacode.ecourtsindia.com/scan/4bdb8f2a-0dcc-4f76-9c7c-8d6da8ab50d9.pdf","url":"https://indiacode.ecourtsindia.com/assam-municipal-corporation-act-2022/"},"unit":"section","section":{"number":"61","heading":"Investment of Surplus money","text":"Surplus moneys standing at the credit of any of the heads of accounts of the Municipal Fund which are not required, either immediately or at any early date, to be applied for the purposes of this Act by the Corporation, may, in accordance with such regulations as may be made by the Corporation in this behalf, be transferred by the Corporation, either in whole or in part, to any other head of account of the Municipal Fund: Provided that no such money shall be transferred permanently from any of the heads of accounts to any other head of account without the previous approval of the Corporation: Provided further that such surplus moneys standing at the credit of the Commercial Projects Account of the Municipal Fund shall not be transferred to the General Account of the Municipal Fund. (2) Surplus moneys which are not transferred under sub-section (1) above may be invested in public securities or small savings schemes, approved by the State Government, or deposited at interest with such scheduled bank as may be determined by the Empowered Standing Committee. (3) Profit or loss, if any, arising from the investment as aforesaid shall be credited or debited, as the case may be, to the account to which such profit or loss relates. Chapter X Budget Estimates Preparation of budget estimate of Corporation.","html":"<p>Surplus moneys standing at the credit of any of the heads of accounts of the Municipal Fund which are not required, either immediately or at any early date, to be applied for the purposes of this Act by the Corporation, may, in accordance with such regulations as may be made by the Corporation in this behalf, be transferred by the Corporation, either in whole or in part, to any other head of account of the Municipal Fund: Provided that no such money shall be transferred permanently from any of the heads of accounts to any other head of account without the previous approval of the Corporation: Provided further that such surplus moneys standing at the credit of the Commercial Projects Account of the Municipal Fund shall not be transferred to the General Account of the Municipal Fund. (2) Surplus moneys which are not transferred under sub-section (1) above may be invested in public securities or small savings schemes, approved by the State Government, or deposited at interest with such scheduled bank as may be determined by the Empowered Standing Committee. (3) Profit or loss, if any, arising from the investment as aforesaid shall be credited or debited, as the case may be, to the account to which such profit or loss relates. Chapter X Budget Estimates Preparation of budget estimate of Corporation.</p>","words":222,"text_source":"ocr"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/assam-municipal-corporation-act-2022/section/61/","note":null,"source_note":"Read from the Government's own scanned gazette with Azure Document Intelligence, then split into sections by their numbering. India Code publishes no text for this Act. The scan itself is mirrored into our own storage and served at /scan/4bdb8f2a-0dcc-4f76-9c7c-8d6da8ab50d9.pdf, so the reading here can be checked against the page it came from without depending on India Code's own copy staying where it is (it was at https://indiacode.gov.in/server/api/core/bitstreams/610a677f-104b-48d6-a380-d50e09198f79/content).","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}