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Section 35: Deposit of money in fund and operation thereof.

The Maharashtra Housing and Area Development Act, 1976.State Act of Maharashtra · Act 28 of 1977

(1) Except as otherwise directed by the State Government, all moneys forming part of the funds of the Authority shall be deposited in the Reserve Bank of India or in such Scheduled Bank or invested in such securities as may be approved by the State Government.

Explanation.- For the purposes of this section, the Reserve Bank of India means the Reserve Bank of India at [Mumbai] constituted under the Reserve Bank of India Act, 1934 (II of 1934), and a Scheduled Bank means a Bank included in the Second Schedule to the said Act.

(2) The fund of the Authority shall be operated upon by such officers as may be authorised by the Authority.

Where this provision sits

ActThe Maharashtra Housing and Area Development Act, 1976.
Section35
Marginal noteDeposit of money in fund and operation thereof.
JurisdictionState of Maharashtra
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, Mah. 25 of 1996. This word was substituted for the word "Bombay" by Mah. 25 of 1996, s. 2 and Sch., para (2).

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