Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything contained in this Act or in any other Ci'nwqucnces law in force for lhe lime iicing, with effect from the date of an order <|dj^0|U|j0I1 | of -^dissolution] made under sub-seciion (1) or sub-section (4) of scclion 117.— (a) ail the members of the Corporation, lhe Mayor-in-Council and any committee of the Corporalion constituted under this Act. and the Mayor and lhe Chairman shall vacatc liteir ' offices, and (h) all ihe powers and duties which, under lhe provisions of this Act or any rule or regulation made thereunder or of any law in force for lhe lime being, may be exercised or performed by the memhers of the Corporalion or lhe Mayor-in-Council or any committee of the Corporalion or lhc Mayor or the Chairman, shall be cxerciscd or performed, subjcct to such directions as the Stale Government may give from time to time, by such person or persons as the Slate Government may appoint in ihis behalf: (Pari 111.—Finance.— -Chupier VIII.— The Municipal Fund.— Section U9.) Provided that when lhe Slate Government appoinis more llian one person lo cxercisc uny powers and perform any duties it may, by order, allocate, in such manner as it thinks Hi, such powers and duties among the persons so appointed: Provided further thai the State Government shall fix the remuneration of such person or persons, and may direct thai such remuneration shall, in each case, be paid out or the Municipal Fund. (2) For the avoidants of doubts il is hcrehy declared lhal an order of '[dissolution] made under suh-seclion (I) or sub-seciion (4) orscciion 117 shall not effect or imply in any way the dissolution ol the The Kolkaia Municipal Corporaiion Acl. 1980. 631 Corporaiion as a budy corporaie. PART III FIN A NCR CH AP TER VI I I . The Municipal Fund Municipal jig. (J) r[*here shall he a Tund to be called tire Municipal Fund to be held hy the Corporation in trusi for lhe purposes or this Acl and nil moneys realised or realisable under this Act and all moneys otherwise received by lhe Corporation shall be crediicd iliereio. -(2) The Municipal Hund shall be maintained in the following six accounts, namely:—■ (a) the Water-supply, Sewerage and Drainage Account, (h) lhe Road Developmenl and Maintenance Account, (c) the Bustee Service Account, (d) ihe Commercial Project Account, (e) the Solid Waste Account, and (0 lhe General Account which shall rclaic Lo all moneys received by or on behalf of Hie Corporation other than those specified in clausc {a}, clause (li). clause (c), clause (d), or clause (e). (3) All moneys realised on different accounts referred to in sub-seciion (2) shall forthwith be_depoiiled with lhe Slale Bank of India or with such 632 The Kolkaia Municipal Corporation Acl, 1980. [West Ben. Act LIX of 1980.] (Part HI.—Finance.—Chapter Vlll,—The Municipal Fund.—Scclion 120.) : oilier scheduled bank as may be approved by lhe Stale Government in tliis behalf for credit to the respective heads of accounls styled as— (a) the Water-supply, Sewerage and Drainage Account of the Municipal Fund of the '[Kolkaia] Municipal Corporation; (b) ilie Road Development and Maintenance Account of the Municipal Fund of lhc '[Kolkata] Municipal Corporalion; (c) the Bu.stee Services Account of lhc Municipal Fund of lhe '[Kolkaia] Municipal Corporation; (d) lhe Commercial Projects Account of the Municipal Fund of the '[Kolkaia] Municipal Corporalion; and (c) the General Accouni of lhc Municipal Fund of the '[Kolkata] Municipal Corporalion.