Amendment status not verified — confirm the current text below against the official source.
Funds of Planning Authority.—(1) Every Planning Authority shall have and maintain a separate fund to which shall be credited,— (a) all moneys received by the Planning Authority from the State Government by way of grants, loans, advances or otherwise; (b) all charges or fees received by the Planning Authority under this Act or rules, regulations or bye-laws made thereunder; (c) in the case of a Planning Authority constituted under section 4C, such contributions from the Fund or Funds of the local authority or local authorities of the area included in the planning area, as such local authority or local authorities may from time to time be required by the State Government to make to such Planning Authority; (d) all moneys received by the Planning Authority from any other source. (2) The Fund shall be applied towards meeting,— (a) the expenditure incurred in the administration of this Act; (b) the cost of acquisition of land in the planning area for the purposes of development; (c) the expenditure for such other purposes as the State Government may direct.