Amendment status not verified — confirm the current text below against the official source.
Constitution of Corporation Fund. - (1) Save as otherwise provided in this Act, - (a) all funds which immediately before the constitution of a City vested in any local authority of the City or any part thereof; (b) all moneys received by or on behalf of the Corporation under the provi- sions of this Act or of any law for the time being in force, or under any con- tract; (c) all proceeds of the disposal of property by, or on behalf of the Corporation; (d) all rents accruing from any property of the Corporation; (e) all moneys raised by any tax, rate of cess levied for the purposes of this Act; (f) all fees collected and all fines levied under this Act or under any rule, regu- lation or bye-law made thereunder; (g) all moneys received by or on behalf of the Corporation from the Govern- ment or any individual or association of individuals by way of grant or gift of deposit; (h) all interests and profits arising from any investment of, or from any trans- action in connection with, any money belonging to the Corporation, in- cluding loans advanced under this Act; (i) all moneys received by or on behalf of the Corporation from any other source whatsoever; (2) The Corporation Fund shall be held by the Corporation in trust for the pur- poses of this Act subject to the provisions herein contained. Punjab Municipal Corporation Act, 1976, Section 76 45 Section 77