Amendment status not verified — confirm the current text below against the official source.
(1) If any municipality makes default in the 63*collection or payment to the 64[State] Government of any sum due in respect of the Urban Immovable Property tax, the 64[State] Government may, after holding such inquiry as it thinks fit, fix a period for the 63* collection or payment of such sum. (2) If the 63* collection or payment of such amount is not made within the period so fixed, the 64[State] Government may, 65[notwithstanding any law relating to the funds vesting in such municipality or any other law for the time being in force,] direct any bank in which any moneys of the municipality are deposited or the person in charge of the Government treasury or of any other place of security in which the moneys of the municipality are deposited to pay such sum from such moneys as may be standing to the credit of the municipality in such bank or as may be in the hands of such person or as may from time to time be received from or on behalf of the municipality by way of deposit by such bank or person ; and such bank or person shall be bound to obey such order. (3) Every payment made pursuant to an order under sub-section (2) shall be & sufficient discharge to such bank or person from all liability to the Bom. LIX of 1949. Bom. III of 1901. Bom. XVIII of