Amendment status not verified — confirm the current text below against the official source.
Funds'oj authorzty.-(1) The Authonty shall have Its own fimd to he called the "Kera1a Water Authonty Fund" wJuch shall be deemed to be a local fund and to which shall be credited all moneys received othc1 wt~e than, by way of loanJ by or on behalf of the Authority. (2) The Authonty shall also have another fund to he C..ilblthe "Kerala Water Authority's Loan Fund" wh1ch shall also be deemed to he a local fund and to which shall be credtted all moneys te.teived by 01 on behalf of the Authontv by way-of loans. (3) Without p1ejudice to the proviSions of sub-sections (I) and (~). the Authority may, With the previous approval of the Govenunent, constitute such other funds as may be necessary for the efficient performance of its functions under this Act. . . ' • • (4) A moneys spec1 e m the f01 egomg prOVISIOns and fo1 ming part of the funds of the Authonty shall be deposited undet such detailed Head~ or Accounts as may be prCSCIJbed- (a) into the Public Account of the Govetnment, or (b) m the State Bank of Imha constituted under the State Ban1 of India Act, 1955 (Central Act 23 of 1955), or (c) in a Substdiary Bank as dehned In ~ection 2 of .the State Bank of Ind1a (Subsidiary Banks) Act, 1959 (Central Act 38 of 1959); 01 (d) m, anv Natwnuliscd Bank commg w1tlun the scope of the B'l.nking Companies (Acquisition and Tiansfer of Unde1takings) Act, 1970 iliJ.f~a)_ Act 5 of 1970) or the Banking Companies (Acquil!itlon :md Transfer 1Jiid,"-mgs) Act, 1980 (Central Act 40 of 1980); a 1il, -1·~ount shall be operated upon by ~uch officet s of the Autho , C~ /9-aurhorised by the Authonty and m such manner as may be pr 'J~ th Ce/Jtr. ity may mvest any sums not requucd lor immediate usc m sue Ci/.1'-or debentures as may be approved by. the Government. Cf ~