Amendment status not verified — confirm the current text below against the official source.
(1) To the Bad Debts Fund shall be credited every year- (a) by the Corporation ten per centum of its net profits; and (b) by the State Government such amount as grant as may be equivalent to the amount credited under clause (a): Provided that nothing herein shall be deemed to debar the State Government from giving such amount by way of additional grant for being credited to this Fund as it may think fit. (2) The Bad Debts Fund shall be used in connection with irrecoverable debts of the Corporation in such manner as may be prescribed.