Amendment status not verified — confirm the current text below against the official source.
Application of Corporation Fund. - (1) The moneys from time to time credited to Corporation Fund shall be applied in payment of all sums, charges and costs necessary for carrying out the provisions of this Act, and of the rules, regu- lations and bye-laws made thereunder, or of which payment is duly directed, sanctioned or required by or under any of the provisions of this Act. (2) Such moneys shall likewise be applied in payment of all sums payable out of the Corporation Fund under any other enactment for the time being in force. (3) Notwithstanding anything contained in this Act such moneys may also be applied in payment of all sums, charges and costs on all acts and things which are likely to promote the safety, health, welfare, or convenience of the inhabitants, or expenditure whereon may be declared by the Corporation, with the sanction of the Government, to be an appropriate charge on the Corporation Fund. (4) Each Corporation shall contribute from its Fund such sum as may be re- quired by the Government towards meeting the cost of the Local Government Directorate or its sub-offices as the Government may establish, for the purpose of advising, assisting and supervising the work of Corporation and other local bod- ies: Provided that such sum shall not exceed an amount equal to one per cent of the income for the financial year preceding the year, in which the Corporation is called upon to make the contribution. Section 83