The Road Transport Corporations Act, 1950
29. Provision for depreciation and reserve and other funds.
- A Corporation shall make such provisions for depreciation and for reserve and other funds as the State Government may, from time to time, direct.
- The management of the said funds, the sums to be carried from time to time
to the credit thereof and the application of the moneys comprised therein shall
be determined by the Corporation:
Provided that no fund shall be utilised for any purpose other than that for which it was created without the previous approval of the State Government.
- S. 26 renumbered as sub section (1) of that section by Act 28.of 1959, s. 5.2 Ins. by s. 5, ibid.
- Subs. by Act 63 of 1982, s. 13 (w.e.f. 13-11-1982).
- Ins. by S.14, ibid. (w.e.f. 13-11-1982).
- Subs. by s. 16 & Sch., ibid. (w.e.f. 13-11-1982).