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() As soon as may be within one year from the commence ment of the Constitution (Seventy-third Amendment) Act, 1992 and thereatter at the expiration of every fifth year, the Governor of Punjab Shall by Notification, constitute a Finance Commission to e called the Punjab Finance Commission for Panchayats and Municipalities for reviewing the financial position of Panchayats and Municipalities and 1or making recommendations in terms of the provisions of Article 243-l and Article 243-Y of the Constitution of India. Short title and commencemen t. Definitions. COnstitution of Finance Com mjssion. PUNJAB GOVT GAZ. (EXTRA.), APRIL 19, 1994 25 (CHTR. 29, 1915 SAKA, DEPARTMENT Ot LEGAL AND LEGISLATIVE AFFAIRS PUNJAB Notification The 19th April, 1994 No 8-Leg./94. —The following Act of the Legislature of the State of Punjab receive ! the assent of the Governor of Punjab on the 19th April, 1994, and is hereby published for general informotion :—- THE PUNJAB FINANCE COMMISSION FOR PANCHAYATS AND MUNICIPALITIES ACT, 1994 (Punjab Act No. § of 1994) AN ACT to provide for the constitution of the State Finance Commission to review the financial position of the Panchayats and Municipalities in the State and to make recommendations in terms of the provisions of Article 243-1 and Article 243-Y of the Constitution of India. BE it enacted by the Legislature of the State of Punjab in the Forty- fifth Year of the Republic of India as follows :—