Amendment status not verified — confirm the current text below against the official source.
Sinking fund for house-rate and market loans to be maintained.— (1) Until such times as the corporation repay the house-rate loan and the two market loans raised in 1867 and 1868 under the provisions of sections 253 to 258 of the 10Bombay Municipal Act, 1865 (Bom. II of 1865), it shall be incumbent on the corporation to maintain out of the taxes, on the security of which the said loans were raised, the sinking fund prescribed by section 257 of the said Act: Provided that in the event of the corporation’s discharging any portion of the said loans at any time previous to the time at which they are repayable in full, it shall be competent to the corporation to reduce pro tanto the amount of the said sinking fund. Publication of Annual Account of Balance due on Loans 1 The words “the Provincial Government” were substituted for the words “the Government” by the Adaptation of Indian Laws Order in Council. 2 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 3 These words were substituted for the words “to the President of the Corporation” by Mah. 10 of 1998, s. 54. 4 The words “Official Gazette” were substituted for the words “Bombay Government Gazette” by the Adaptation of Laws Order, 1950. 5 This word was substituted for the words “Her Majesty” by the Adaptation of Laws Order, 1950. 6 This word was substituted for the word “Crown” by the Adaptation of Laws Order, 1950. 7 This word was substituted for the word “Crown” by the Adaptation of Laws Order, 1950. 8 This word was substituted for the word “Crown” by the Adaptation of Laws Order, 1950. 9 This word was substituted for the words “the Crown” by the Adaptation of Indian Laws Order in Council. 10 Bom. 2 of 1865 was repealed by Bom. 3 of 1872. 150 The Mumbai Municipal Corporation Act [1888 : III