Amendment status not verified — confirm the current text below against the official source.
(1) The Meghalaya Ropeway Development Authority shall have and maintain its own fund to which shall be credited:- (a) all money received by the Authority from the State Government by way of grants, loans, advances or otherwise; (b) all development charges or other fees received by the Authority under this Act or rules or bye-laws made thereunder; and (c) all money received by the Authority from any other source(s). (2) The Authority may, in any nationalised or other bank(s) approved by the State Government in this behalf, open any number of accounts and keep such portions of each fund as may be prescribed; and any money in excess of the said sum shall be invested in such manner as may be approved by the State Government.