Amendment status not verified — confirm the current text below against the official source.
(I) The Guwahati Metropolitan Dexelop- Metropoihan merit Authority shall have and maintain its own Development fund to which shall be credited— Authority. (a) all money received by the Authority from the State Government by way of grants, loans, advances or otherwise; (b) all development charges or other fees recei ved by the Authority under this Act or rules or regula tions made thereunder; and (c) all money received by the Authority from any other sources. (2) The Authority may keep in current account in any nationalised Bank approved by the State Government in this behalf, such portions of each fund as may be prescribed and any money in excess of the said sum shall be invested in such manner or may be approved by the State Government.