Amendment status not verified — confirm the current text below against the official source.
(1) There shall he placed lo lhe credit or llic Municipal Fund in llic Commercial Projecis Account— (a) lhe reccipis on account of the commercial projects of lhe Corporation; and (h) such sum as may be transferred in each year by the Corporation from Die General Account. (2) The Slale Government shall in each year give to ihe Corporation ail amount which shall include any money given by lhe Stale Government to the Corporation as subvention for a spec i He purpose or given lo wards ihe payment of salaries and allowances, if any, of the officers and employees of ihe Corporation referred lo in section 14 and scclion 17 in so far as Ihcir work relates io commercial projccis, (3) The money credited to the Municipal Fund in the Commercial Projecis Account shall, subject to lhe regulations made in this behalf, he applied for the purposes of— (a) meeiing lhe dcvclopmcm and maintenance costs of commercial projecis. (b) undenaking new commercial projects, '123A. There shall be placed io lhe credit of the Municipal Fund in lhe Solid Waste Account— {a) an amounl equal lo fifteen per cent, of lhe amount credited on properly lax impused under section 171; (b) the money orchcque credited by the Corporation under section 210B and under the provisions of Chapter XX; (c) such sum as may be transferred in each year by the Corporation from lhe General Fund; and (d) the amounl received from the Stale Government or from any oiher source saving the sources referred to in clause (a), clause (b), or ulau.se (c). 124, Subject to the provisions of sections 120, 121, 122 and 123 the moneys credited lo lhe Municipal Fund from lime lo lime shall he applied Tor payment of all sums, chargcs and cosls necessary for carrying out the purposes of this Acl and the rules and the regulations made thereunder or for payment of all sums payable out of lhe Municipal Fund under any other enactment in force for lhe time being. 125, Expenditure on physical assets outside -[Kolkaia] may, for carrying out the purposes of this Act, be made if a resolution lo lhal effect is carried by not less than one- half of the loial number of members of lhe Corporation. . 'Sectiun 123A was inserted hy s K ofihe: Calcutta Municipal Corporaiion (Amendment) ACI.2IS0I (West Ben. Act VIII of 2001). 'Si.'i' fml-noic 2 on pnjie 571, tittle. 635 The Koika lit Municipal Corporation Act, 19S0. [West Ben. Act O|>oracion (if Acconnls pay 111 l.ti( nol ti> be iilncli: ■y. v ! Municipal Fund unless coverud by a budget yrjm. Praccdun: when money i'.ui covered, by a budget j;rnn[ is paid (Part Hi.—Finance.—Chapter VIII.—The Municipal Fund.Sections 126-128.) 126, Subject lo the oiher provisions or this Acl, payment from the Municipal Fund shall he made in such manner as may be determined by regulations. and the accounts referred to in section 119 shall be operated by such officers ofihe Corporaiion as may be authorised by the Corporation by regulations.