Amendment status not verified — confirm the current text below against the official source.
4 Section 195C was inserted by Bom. 20 of 1920, s. 2. 5 The words “the Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 6 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 7 The words, figures and letters were substituted for the original words, letters, figures and brackets “which have been paid to them by the Corporation from the town-duty levied on raw cotton under section 195A, now repealed, and allotted to the provision of tenements for the working classes in the City of Bombay, as constituted on the 1st day of October 1920” by Bom. 2 of 1934, s. 3. 208 The Mumbai Municipal Corporation Act [1888 : III the 1st day of October 1920] of all loans raised and utilised or the provision of such tenements and of any sinking funds formed for the repayment of such loans and shall supply the corporation with a copy of the account for each year. (2) The corporation shall have the right, after giving six months previous notice in writing, to acquire from 1[the 2[Government]] on the 1st day of April 1936, or on the 1st day of April of any subsequent year the right, title and interest of 3[the 4[Government]] in all lands and buildings acquired and all buildings constructed in the City of Bombay constituted as aforesaid, with the aid of such moneys and loans, on indemnifying 5[the 6[Government]] against all then existing and all future liabilities of 7[the 8[Government]] in respect of such lands and buildings and in respect of such loans. (3) For the purpose of determining the amount of any indemnity in respect of any such loan regard shall be had to any then existing sinking fund formed for the repayment of such loan; the intention being that the corporation shall pay to 9[the 10[State] Government] from time to time sufficient moneys— (a) to satisfy all interest on such loan as the same may become payable by 11[the 12[State] Government]; and (b) to make up, after taking into account any sinking fund, the amount which 13[the 14[State] Government]may be liable at the maturity of such loan. (4) For the purpose of enabling the corporation to determine whether such right shall be exercised 15[the 16[State] Government] shall at all reasonable times after the 1st day of April 1935 cause inspection of such separate account to be given to the corporation. (5) On the giving of such notice as is referred to in sub-section (2) the question as to the amount and form of such indemnity shall stand referred to the sole arbitration of some person to be nominated by the 17[Chief Justice of Maharashtra] who shall be assisted by two assessors one to be nominated by 18[the 19[ State] Government] and one by the corporation and his decision shall be final. (6) Upon the corporation giving such indemnity the right, title and interest of 20[the 21[Government]] in such lands and buildings shall vest in the corporation. 1 The words “the Crown” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 2 This word was substituted for the word “Crown” by the Adaptation of Laws Order, 1950. 3 The words “the Crown” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 4 This word was substituted for the word “Crown” by the Adaptation of Laws Order, 1950. 5 The words “the Crown” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 6 This word was substituted for the word “Crown” by the Adaptation of Laws Order, 1950. 7 The words “the Crown” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 8 This word was substituted for the word “Crown” by the Adaptation of Laws Order, 1950. 9 The words “the Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 10 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 11 The words “the Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 12 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 13 The words “the Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 14 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 15 The words “the Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 16 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 17 These words were substituted for the words “Chief Justice of Bombay” by the Maharashtra Adaptation of Laws (State and Concurrent Subjects) Order, 1960. 18 The words “the Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 19 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 20 The words “the Crown” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 21 This word was substituted for the word “Crown” by the Adaptation of Laws Order, 1950. 1888 : III] The Mumbai Municipal Corporation Act 209 1* * * * * 2[195D. Definition of Loan.— Loans raised and utilised for the purpose of repaying (whether directly or indirectly) loans raised and utilised 3[* * *] for provision of such tenements as are referred to in sub-section 4[(1) of section 195C] shall be deemed to be loans raised and utilised 5[* * *] for the provision of such tenements 6[* * * * * *]]. 7[Education Cess