Amendment status not verified — confirm the current text below against the official source.
(1) Save as otherwise provided in this Act- (a) all funds which immediately before the declaration and constitution of the Corporation under sections 3 and 4 of this Act vested inthe Municipal area of the Faridabad Complex or any part thereof or any municipality including area comprising rural area or a part thereof if any; (b) all money received by or on behalf of the Corporation under the provision of this Act or of any law for the time being in force or under any contract; (c) all proceeds of the disposal of property by, or on behalf of the Corporation; (d) all rents accruing from any property of the Corporation; (e) all moneys raised by any tax, rate or cess levied for the purpose of this Act; (f) all fees co llected and all fines levied under this Act or under any rule, regulation or bye-law made thereunder; (g) all moneys received by or on behalf of the Corporation from the Government or any individual or association of individuals by way of grant or gift or deposit; (h) all interest and profits arising from any investment of, or from any transactions in connection with, any money belonging to the Corporation including loans and advances under this Act; (i) all moneys received by or on behalf of the Corporation from any other source whatsoever, shall form one fund to be called the Corporation Fund. 439 Constitution of Corporation Fund. Constituion of Services to Poor Fund. Corporation Fund to be kept in treasury or in a nationalised bank. Operation of account with banks. Payment not to be made unless covered by a Budget grant. 440 MUNICIPAL CORPORATION [1994 : Hr. Act 16 (2) The Corporation Fund shall be held by the Corporation in trust for the purposes of this Act subject to the provisions herein contained. (3) The ownership of all properties, movable or immovable and assets belonging to the Faridabad Complex Administration shall vest in the Corporation. (4) All liabilities of Faridabad Complex Administration shall be the liabilities of the Corporation. (5) All actions taken, rights acquired or liabilities incurred by the Faridabad Complex Administration shall be deemed to have been taken, acquired or incurred by the Corporation under this Act. l[72A. (1) A separate fund called the Service to Poor Fund shall be constituted to deliver the services to the poor and the inhabitants of slum areas. This fund shall comprise of,- (i) all moneys raised by any rent, tax, fine, rate or cess on any person or any property situated in slum area; (ii) a grant received from the Central/State or any other agency for development of slum area; (iii) moneys received from any individual or associations of individuals by way of grants or gifts or deposits for service to the poor; (iv) all moneys received by or on behalf of Corporation or any source specifically meant for this fund; and (v) any fund that may be transferred by the Commissioner from the Corporation fund under the specific major head of account to ensure adequate funds for meeting the purpose of this fund.]