Amendment status not verified — confirm the current text below against the official source.
Receipt of moneys and deposit in bank.-All moneys payable to the Board shall be received by the Chairman, and shall forthwith be paid into such bank as may be approved by the Government in this behalf to the credit of an account which shall be styled "The Account of the Trustees for the Improvement of the City of Trivandrum". I 14. Investment of surplus monry.-(1) Surplus moneys at the credit of the said account may from time to time be- ( a) deposited at interest in the bank aforesaid; or (b) invested in such securities or debentures as may be approved by the Government. (2) All such deposits and investments shall be made by the Chairman on behalf of, and with the sanction of, the Board; and, with · the like sanction, the Chairman may at any time Withdraw any deposit so made, or dispose of any securities, and re-deposit or re-invest the money so Withdrawn or the proceeds of the disposal of such securities. I 15. Payments by cheques.-(!) No payment shall be made by the bank out the account referred to in section l 13, except upon a cheque. (2) Payment of any sum due by the Board exceeding one hundred rupees in amount shall be made by means of a cheque and not in any other way. II6. Signature of orders under section I 14 and cheques.-All orders for making any deposit, investment, withdrawal or disposal under section II4, and all cheques referred to in section IlS, must be signed- (a) by the Chairman and the Secretary to the Board, or (b) in the event of the illness or absence from the City of the Chairman or the Secretary, then by the Secretary or the Chairman, as the case may be, and by a Trustee other than the Chairman. I I 7. Duty of chazrman and others before signing cheque.-Before the Chairman or any other Trustee or the Secretary to the Board signs a cheque under section I I 6, he must satisfy himself that the sum for which such cheque is drawn is required for a purpose or work iipeci- fically sanctioned by the Board or IS an item of payment specified in sub-section (3) ofsection Il2. IIB. Definition of "cost of management" .-(1) The expression "cost of management" as used in the.following sections in this Chapter, means- ( a) the salary and house-rent and conveyance allowance (if any) of the Chairman OI acting Chairman, and any other allowances and any contributions payable to or in respect of the Chairman or acting Chairman; (b) the salaries, fees and allowances of, and the contributions paid under section 141 in respect of, officers and servants of the Board referred to in section 27; (c) the remuneration of other employees of the Board excep. employee~ who are paid by the day or whose pay is charged to temporary work; (d) all payments made under sections 77 and 141 on account of the Tribunal; and (e) all office expenses incurred by the Board or the Tribunal • OE.' n·.·,..~·r I Rq.\RY. - • • 1 I rt oJ • '' 1 ' 4-U • I. \ • • , , LA. ~ ; ), r _ I lo ' (2) The expression "office expenses" m clau~£ {e)_ of sub-section .... (I) meam expenses incurred for carrying on office work, nnd includes the rent of offices, the provision of lurniture therefor, and charges for printing and stationery.