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Section 107: Investment of surplus moneys.

The Delhi Municipal Corporation Act, 1957Central Act · Act 66 of 1957

[107. Investment of surplus moneys.--(1) Surplus money standing at the credit of General Account of the Municipal Fund which cannot immediately be applied for the purposes specified in section 105 shall be deposited in the State Bank of India or in such scheduled bank or banks as [[the Corporation]] may select or be invested in public securities.

(2) The loss, if any, arising from such deposit of investment shall be debited to the General Accounts of the Municipal Fund.

Where this provision sits

ActThe Delhi Municipal Corporation Act, 1957
Section107
Marginal noteInvestment of surplus moneys.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 67 of 1993. . Subs. by Act 67 of 1993, s. 77, for section 107 (w.e.f. 1-10-1993).
  • substituted, Delhi Act 12 of 2011. . Subs. by Delhi Act 12 of 2011, s. 2 “the Corporation” (w.e.f. 13-1-2012).
  • substituted, Act 10 of 2022. . Subs. by Act 10 of 2022, s. 2, for “a Corporation” (w.e.f. 22-5-2022).

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