Amendment status not verified — confirm the current text below against the official source.
District fund, its custody and investment.— (1) There shall be in each District a local fund which shall be called the district fund. (2) The following shall be paid into, and form part of, the district fund, that is to say— (a) the balance in the local fund of a district or of a Janapad area formed under the relevant District Boards Act ; 1 Section 128 was substituted for the original by Mah. 11 of 1985, s. 3. 2 Sub-sections (2) and (3) were substituted for sub-section (2) by Mah. 34 of 1966, s. 7. 96 The Maharashtra Zilla Parishads and Panchayat [1962 : Mah. V Samitis Act, 1961 (b) the net proceeds (after deducting the expenses of assessment and collection) of any residue of the taxes or cesses payable in the District under the relevant District Boards Act; (c) the proceeds (after such deductions as may be prescribed) of the cesses in the District authorised by sections 144, 146, 151 or 152; (d) the balance of the amount of the tax on professions, trades, callings and employments after deducting such percentage thereof as is to be assigned to a panchayat under clause (b) of section 163; 1[(d-1) the sum representing the share of the Zilla Parishad in the net proceeds of the taxes, duties, tolls and fees levied by the State as distributed and allocated as determined by the State Government on the recommendations of the Finance Comminssion;] (e) all rents and profits accruing from property (including ferries) vested in a Zilla Parishad; (f) the proceeds of all tolls and leases of tolls on roads and bridges vested in the Zilla Parishad which are levied in the District under the Tolls on Roads and Bridges Act, 1875 (Bom. III of 1875), or any corresponding law in force in any part of the State; (g) all sums received by the Zilla Parishad 2[in the execution] of, or from taxation under this Act; (h) the interest on and the sale proceeds of any securities 3[and the dividends payable in respect of, and the sale-proceeds of, shares, if any,] held by the Zilla Parishad ; (i) all sums contributed by private persons; (j) the receipt on account of charities and trusts placed under the management of a Zilla Parishad; (k) all grants, loans, assignments and contributions made by the State Government; (l) all grants, loans and contributions meant for Panchayat Samitis or any institutions or persons and to be paid through the Zilla Parishad by Government; (m) all other sums received 4[including any monies borrowed under the Act] by or on behalf of the Zilla Parishad under this Act or any other law for the time being in force; (n) all sums paid by the State Government to the Zilla Parishad to meet expenses for the performance of any agency function; (o) all sums realised by way of penalty otherwise than by way of a fine in a criminal case; and (p) all amounts received from persons for supplying or providing services, facilities, benefits or amenities : Provided that, when a public ferry, road or bridge vested in one or more than one Zilla Parishad is partly in one District and partly in another, the Commissioner, if the Districts are in one division, and the State Government if they are in different divisions, may assign to the district fund of each Zilla Parishad such proportion of the net proceeds of such ferry or of the toll, or of the lease of the tolls levied on such road or bridge, as he or it may think proper. 5[(2A) (a) Notwithstanding anything contained in sub-section (2), with effect from the date of commencement of the Maharashtra Zilla Parishads and Panchayat Samities (Fourth Amendment) Act, 1974 (Mah. VI of 1975) all sums representing subscriptions paid by the employees of a Zilla Parishad to any provident fund established by it or contributions made by the Zilla Parishad on such subscriptions, if any, for the benefit of such employees shall be paid by the Chief Executive Officer into the public account of the State. The manner in which payment into the public account of the State 1 Clause (d-1) was inserted by Mah. 21 of 1994, s. 75. 2 These words were substituted for the words “for the execution” by Mah. 43 of 1962, s. 16. 3 These words were inserted by Mah. 6 of 1975, s. 39(a). 4 These brackets and words were inserted by Mah. 35 of 1963, s. 54. 5 Sub-section (2A) was inserted by Mah. 6 of 1975, s. 39(b). 1962 : Mah. V] The Maharashtra Zilla Parishads and Panchayat 97 Samitis Act, 1961 of such sums may be made and the withdrawal of moneys from such public account and all other matters connected with or ancillary to matters aforesaid, shall be regulated by rules made by the State Government. (b) All accumulations in the provident fund held on individual accounts of all the subscribers immediately before such commencement (including any investment thereof), shall likewise be paid into the public account of the State and operated upon before such date as the State Government may direct.] 1[(2B) Notwithstanding anything contained in sub-section (2), all sums in respect of the pension contributions payable and credited to the Zilla Parishad Pension fund for a period upto and inclusive of the 31st day of March 1974 and representing the balance therein, including investments, if any, thereof in securities or shares, shall be paid by the Chief Executive Officer into the Consolidated Fund of the State. The manner in which payment into the Consolidated Fund of the State of such sums and securities and shares, if any, may be made and all other matters connected with or ancillary to matters aforesaid, shall be regulated by such general or special order as the State Government may, from time to time, make in this behalf.] (3) The district fund shall be kept— (a) in the Government treasury or in the bank to which the business of the Government treasury has been made over ; or (b) subject to such conditions as the State Government may specify in this behalf, in such co-operative society as may be approved by the State Government. 2* * * * * 3[(4) The Zilla Parishad may, from time to time, with the previous approval of the State Government invest any portion of the district fund— (a) in the securities of the State or Central Government or in such other securities as the State Government may approve in this behalf; (b) in the purchase of shares of co-operative societies, or shares or debentures of any corporation (including a company) owned or controlled by the State, as the State Government may by general or special order approve in this behalf, and vary such investments for others of the like nature and the income resulting from the securities, shares or debentures and the proceeds of the sale of the same shall be credited to the district fund.] 4[130A. Borrowing of money.— A Zilla Parishad may borrow money for the purposes of carrying out its functions under this Act from any bank or co-operative society in which the monies at the credit of the district fund are deposited], 5[or from such body or association, whether incorporated or not as may be approved by the State Government in this behalf.]