Amendment status not verified — confirm the current text below against the official source.
Expenditure on objects other than those stated in section 17 - It shall be competent for the Corporation to spend such sums as it thinks fit also on objects authorised under this Act other than projects and schemes referred to in section 17 and such sums shall be treated as common expenditure payable out of the funds of the Corporation. 37.Reserve and other funds - (1) The Corporation shall make provisions for such reserve and other specially denominated funds as the Government may, from time to time direct. (2) The management of the funds referred to in sub-section (1), the sums to be transferred, from time to time, to the credit thereof and the application of money comprised therein, shall subject to the directions, if any, issued by the Government in this behalf, be determined by the Corporation. (3) None of the funds referred to in sub-section (1) shall, except with the previous approval of the Government, be utilised for any purposes other than that for which it is constituted.