Section 193: Power of Corporation to consolidate loans.

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

(1) Notwithstanding anything to the contrary contained in this Chapter, [[the Corporation]] may consolidate all or any of its loans and for that purpose may invite tenders for a new loan (to be called the Delhi Municipal consolidated loan, 19----------) and invite holders of the municipal debentures to exchange their debentures for scrips of such loan.

(2) The terms of any such consolidated loan and the form of its scrip and the rates at which exchange into such consolidated loan shall be permitted shall be subject to the prior approval of the [[Central Government]].

(3) The period for the exchanging of any such consolidated loan shall not, without the sanction of the Central Government, extend beyond the farthest date within which any of the loans to be consolidated would otherwise be repayable.

(4) [[The Corporation]] shall provide for the repayment of any such consolidated loan by a sinking fund in the manner laid down in section 190, having regard to the amount transferred to such sinking fund under section 191.

Where this provision sits

Act	The Delhi Municipal Corporation Act, 1957
Section	193
Marginal note	Power of Corporation to consolidate loans.
Jurisdiction	Central
Status	In 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, 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).
substituted, Delhi Act 12 of 2011. .Subs. by Delhi Act 12 of 2011, s. 2, for “Central Government” (w.e.f. 13-1-2012).
substituted, Act 10 of 2022. . Subs. by Act 10 of 2022, s. 2, for “Government” (w.e.f. 22-5-2022).
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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