Section 29: Provision for depreciation and reserve and other funds

The Road Transport Corporation Act, 1950State Act of Punjab · Act 64 of 1950

(1) A Corporation shall make such provisions for depreciation and for reserve and other funds as the State Government may, from time to time, direct.

(2) The management of the said funds, the sums to be carried from time to time to the credit thereof and the application of the moneys comprised therein shall be determined by the Corporation:

Provided that no fund shall be utilised for any purpose other than that for which it was created without the previous approval of the State Government.

Where this provision sits

Act	The Road Transport Corporation Act, 1950
Section	29
Marginal note	Provision for depreciation and reserve and other funds
Jurisdiction	State of Punjab
Status	In force as published by the source

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