Amendment status not verified — confirm the current text below against the official source.
(1) When a trust has been duly constituted, the provisions of Chapters I to VIII of this Act shall, within the area entrusted to it for town-planning purposes, apply in full as though the words “trust” and “chairman of the trust” were substituted for “municipal council” or “council” and “chairman of the council” or “chairman”. (2) A trust constituted under this chapter shall be deemed to be a local authority, as defined in the Local Authorities Loans Act, 1914, for the purpose of borrowing money under the provisions of that Act, and the making and execution of a scheme under this Act shall be deemed to be Disabilities of trustees removed under section 48. Application to trusts of this Act and their power to borrow. 42 [Act No.VII of 1920] a work which a local authority is legally authorized to carry out. 88[50-A. The municipal council in whose area a trust operates shall pay annually to the trust such amount as may be agreed on between them or as may be fixed by the *[State Government].]