Amendment status not verified — confirm the current text below against the official source.
(1) Where the sum total of the value of the properties) .° and interests referreA ‘to in clause (a)' of section 4, vested: phe dn the new Corporation (horoinafter in this.section referred of val to as "the assets") exceeds the sum total of the debts, ~ of ass obligations and liabilities which are. deemed to have been and ° incurred by the new Corporation under clause (b) of that ifabili = section (hereinafter in this section referred to as "the reat liabilities)),such excéss shall be paid by the new Cor— poration to the Municipal Corporation of. Delhi on such terms and coriitions as may be determined by the Centeral Govern— ment in this behalf. pony Cnaitcapate ce” saaltey a watts at : (2)..Where the sum tatal of the..liabilities exceeds: the Sum totii of the value of the asse&ss such: excess shall- be paid by thé Municipal Corporation of Delhi to the new Corporation ~ “on such terms and conditions as may be determined: bythe: whe Central Government in this behalf. ' Co. . (2) The sum total of the value of the’ assets and the sum ‘total of the %tabilszes shall. be such amounts as may be arrived at by ac:mement between the. Mynicipal Corporation of Delhi and the new “orporation and where:no such agreement can.be reached, the amourits shall be detemnined by an abitral ‘cribunal consisting of one nominee of the Municipal Corporation of Delhi,.ione nominee of the niw Corporation anda Chairman, to be nominated by the Chief Juztice of the High Court of Delhi, Co at (4) An appeal shall Lie to the High:Court of Delhi against the decision of the tribunal and the order of that High Court on such appeal shall he final. we €. Thi Central Government. may, by order, in writing, j exempt all or‘any of the vehicles of the new Corporation from | payment of any tolls or other charges leviable under . Power 5£ Rt . €ny enactment for the time being in force, for the usé of the Centr: / on ?<Goyernment’ to , ~ 8 “exempt Vehicle> ' of tha new Car. , poration from A eon HS “ payment of. r _ ‘Certain charges.. the roads within the Union territory. gf Delhi. Ay RE Contd... ee ; Admin.) Bt ; wd : | new cen coves eA se Loo Aon hme nneka reese INR anne i ‘ Govt. 9 ee (YP ee een co tee tadep alaneiplceatoe e [feb eeed ue coy ocean TAP. Estafe, New Dehi-110002 | | | | " ’ & I : : “a5 aes i. | = = a) —— Scanned with CamScanner — oo - . ~35. | , endment. ""~4—-~ Delhi Road Transport Laws (Amendment) (Act 74 . aF cts 64 of i on v 1950,66 of