Amendment status not verified — confirm the current text below against the official source.
(1) The capital of the Corporation shall be such sum not exceeding 2[ten crores] of rupees as the State Government may fix: Provided that where the capital initially fixed is less than 9[ten crores] of rupees the State Government may, from time to time, 1Added by Punjab Act No. 19 of 2013, Section 2, on and with effect from the 13th July, 2011. 2Substituted for words “five crores” by Punjab Act No. 20 of 1983, Section 2 Establishment of Punjab Backward Classes Land Development and Finance Corporation. Head Office of Corporation. Capital of Corporation. increase the capital to such sum not exceeding 9[ten crores] of rupees as it may think fit. (2) Such capital may be provided subject to such terms and conditions as may be determined by the State Government. CHAPTER III MANAGEMENT OF THE CORPORATION