Amendment status not verified — confirm the current text below against the official source.
Insertion of new sections the principal Act), the following sections shall be inserted, namely:- 181-A, * 181-B, 181- C and 181-D. ; “181-A. Deposit offund ofpanchayat.— Any panchayat having surplus fund shall, with the prior approval of the Inspector, deposit such surplus fund in any of the financial institutions specified by the Government: Provided that no such deposit shall be made when there is need to utilise this fund for administration or development work during the next twelve months. 181-B. Grant or loan for scheme or project—(1) The Government may make grant or loan to a panchayat for the execution of specific scheme, project, programme or plan relating to any of the matters administered by such panchayat subject to such terms and - conditions as maybe prescribed. (2) Such panchayatshall utilise such grant or loan only for the purpose for which such grantor loan is given. (3) The provisions of the Local Authorities Loans Act, 1914 (Central Act IX of 1914) shall apply in respect of the loan given by the Government underthis section. 181-C. Raising of loan by panchayat.—Every Panchayat shall be competentto raise loan in full or in part from anyfinancial institution or agency or bank for any of the following purposes, subject to the conditions imposed by the Governmentin this behalf, namely:- (a) to carry out any of the works connected with the improvement and developmentof infrastructure in panchayatareas; (b) to carry out relief works at the time of natural calamities; (c) to undertake any measure in connection with, or ancillary to, the above purposes; and (d) to carry out anyofits other statutory functions. 181-D. Procedurefor inter-panchayats lending— (1) Any panchayat may raise loan from any other panchayat and any panchayat may sanction loan to another panchayatto carry out any ofits statutory functions or for the creation of capital assets or income generating assets, with the prior sanction of the Inspector. Scanned by CamScanner TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY . (2) The procedureforthereceipt, utilisation and repaymentofthe loan underthis section and section 181-C shall be subject to such terms and conditions, as maybe agreed upon bythe financial institution or agency or bank or lending panchayat, as the case may be, and the borrowing panchayat. Every of accounts, as maybeprescribed. (3) Every panchayat shallutilise the loans only for the purposes for which such loans are borrowed.”. (By order of the Governor) K. PARTHASARATHY, Secretary to Government, LawDepartment. panchayat shall maintain in respect of the loan, such books - 71 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY . (2) The procedureforthereceipt, utilisation and repaymentofthe loan underthis section and section 181-C shall be subject to such terms and conditions, as maybe agreed upon bythe financial institution or agency or bank or lending panchayat, as the case may be, and the borrowing panchayat. Every of accounts, as maybeprescribed. (3) Every panchayat shallutilise the loans only for the purposes for which such loans are borrowed.”. (By order of the Governor) K. PARTHASARATHY, Secretary to Government, LawDepartment. panchayat shall maintain in respect of the loan, such books - 71 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY . (2) The procedureforthereceipt, utilisation and repaymentofthe loan underthis section and section 181-C shall be subject to such terms and conditions, as maybe agreed upon bythe financial institution or agency or bank or lending panchayat, as the case may be, and the borrowing panchayat. Every of accounts, as maybeprescribed. (3) Every panchayat shallutilise the loans only for the purposes for which such loans are borrowed.”. (By order of the Governor) K. PARTHASARATHY, Secretary to Government, LawDepartment. panchayat shall maintain in respect of the loan, such books - 71 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY . (2) The procedureforthereceipt, utilisation and repaymentofthe loan underthis section and section 181-C shall be subject to such terms and conditions, as maybe agreed upon bythe financial institution or agency or bank or lending panchayat, as the case may be, and the borrowing panchayat. Every of accounts, as maybeprescribed. (3) Every panchayat shallutilise the loans only for the purposes for which such loans are borrowed.”. (By order of the Governor) K. PARTHASARATHY, Secretary to Government, LawDepartment. panchayat shall maintain in respect of the loan, such books - 71 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY . (2) The procedureforthereceipt, utilisation and repaymentofthe loan underthis section and section 181-C shall be subject to such terms and conditions, as maybe agreed upon bythe financial institution or agency or bank or lending panchayat, as the case may be, and the borrowing panchayat. Every of accounts, as maybeprescribed. (3) Every panchayat shallutilise the loans only for the purposes for which such loans are borrowed.”. (By order of the Governor) K. PARTHASARATHY, Secretary to Government, LawDepartment. panchayat shall maintain in respect of the loan, such books - 71 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY . (2) The procedureforthereceipt, utilisation and repaymentofthe loan underthis section and section 181-C shall be subject to such terms and conditions, as maybe agreed upon bythe financial institution or agency or bank or lending panchayat, as the case may be, and the borrowing panchayat. Every of accounts, as maybeprescribed. (3) Every panchayat shallutilise the loans only for the purposes for which such loans are borrowed.”. (By order of the Governor) K. PARTHASARATHY, Secretary to Government, LawDepartment. panchayat shall maintain in respect of the loan, such books - 71 Scanned by CamScanner y TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 73 a The following Act of the Tamil Nadu Legislative Assembly received the assent of the Governor on the 12th June 2000 andis hereby published for general informaion:— ACT No. 24 OF 2000. An Act further to amend the Tamil Nadu Panchayats Act, 1994. Be it enacted by the Legislative Assembly of the State of Tamil Nadu in the Fifty-first Year of the Republic of India as follows:- Q. Short title and commence-