Investment of Surplus money
Section 61 of the Assam Municipal Corporation Act, 2022 deals with investment of Surplus money. 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 th
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.
Section 61, The Assam Municipal Corporation Act, 2022 (Act 8 of 2022).
Questions about Section 61
What does Section 61 of the Assam Municipal Corporation Act deal with?
Section 61 of the Assam Municipal Corporation Act is headed "Investment of Surplus money". 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 th
How do I find court cases under Section 61 of the Assam Municipal Corporation Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Assam Municipal Corporation Act 61, section 61 Assam Municipal Corporation Act, section 61 of the Assam Municipal Corporation Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
When was the Assam Municipal Corporation Act enacted?
Assam Municipal Corporation Act was enacted in 2022 as Act 8 of 2022. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- 2. Definitions2087 words
- 8. 1472 words
- 258. 1084 words
- 266. 871 words
- 115. Revision of assessment753 words
- 303. 724 words
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