Amendment status not verified — confirm the current text below against the official source.
(2) The Fund shall be administered by the Director under the superintendence and control of the State Government. 2[4-A. Notwithstanding anything contained in Section 4, the Fund shall also be utilized to compensate the Cantonment Board, Jalandhar and Cantonment Board, Ferozepur for the loss of revenue, suffered by them due to the abolition of octroi, levied and collected by them, if the cantonment authorities enter into an 1 Substituted for words “Ten per cent” by Punjab Act No.10 of 2012, Section 2 2 Inserted by Punjab Act No. 17 of 2008, Section 2 Constitution of the Fund. Object and administration of the Fund. Compensation to Cantonment Boards. agreement with the State Government, not to levy and collect octroi in these cantonments. Explanation. - For the purpose of this Section, the Cantonment Board shall have the same meaning as has been assigned to it in the Cantonments Act, 2006 (Central Act 41 of 2006).]