Amendment status not verified — confirm the current text below against the official source.
(1) There shall be constituted for each Anchal Sasan an Anchal Fund and there shall be placed to the credit thereof— (a) the proceeds of all taxes, revenue, fees, tolls, cesses and rates imposed under this Act or permitted thereunder to be collected and appropria- ted by the Anchal Sasan ; (b) all grants-in-aid and contributions made to the Anchal Sasan by the Central Government, the State Government, lLiocal authority or persons whether corporate or otherwise ; : (c) all sums paid by the State Government to the Anchal Sasan to meet expenses for the perfor- mance of agency functions ; (d) all sums recovered. on account of composition under section 258 ; : {e) all sums received by the Anchal Sasan in giving effect to the provisions of this Act or the rules and bye-laws made thereunder ; Guatody of auc Found, Fond, 102 (f) all sums received under any loan raised undersection 111 ; and (9) all interest on loans and securities and on arrears of rent and revenue : Provided that the funds to be credited to the Education Fund of the Anchal may not be credited to the Anchal Fund. (2) Where by virtue of a notification under section 4 any Anchal Sasah has been constituted in any compact local area and the jurisdiction of any Local authority has ceased in the said area due to repeal of enactments specified in the Schedule, or when any liabilities of the said Local authority have been transferred to the Anchal Sasan, as so constituted, the State Government may by order in writing direct that all or any portion of the’ Fund vested in the said Local authority shall be transferred to the said Anchal Sasan,