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52. Investment of surplus moneys.

(1) Surplus money standing at the credit of General Account of the New Delhi Municipal Fund which cannot immediately be applied for the purposes specified in section 50 shall be deposited in the State Bank of India or in such scheduled bank or banks as the Council may select or be invested in public securities.

(2) The loss, if any, arising from such deposit or investment shall be debited to the General Account of the New Delhi Municipal Fund.

New Delhi Municipal Council Act, 1994 Back

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