The Delhi Municipal Corporation Act, 1957

Chapter VII

Revenue and Expenditure

The Municipal Fund

99. Constitution of the Municipal Fund.-

The Municipal Fund (1) Save as otherwise provided in this Act,-

(a) all funds which immediately before the establishment of the Corporation vested in any body or local authority specified in the Second Schedule;

(b) all moneys received by or on behalf of the Corporation under the provisions of this Act or of any other law for the time being in force, or under any contract;

(c) all proceeds of the disposal of property by, or on behalf of, the Corporation;

(d) all rents accruing from any property of the Corporation;

(e) all moneys raised by any tax, rate or cess levied for the purposes of this Act;

(f) all fees collected and all fines levied under this Act or under any rule, regulation or bye-law made thereunder;

(g) all moneys received by or on behalf of the Corporation from the Government or any individual or association of individuals by way of grant or gift or deposit;

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(i) all interests and profits arising from any investment of, or from any transaction in connection with, any money belonging to the Corporation, including loans advanced under this Act; and

(j) all moneys received by or on behalf of the Corporation from any other source whatsoever, shall form one Fund to be entitled the Municipal Fund of Delhi (hereinafter in this Act referred to as "the Municipal Fund").

²[(2) The Municipal Fund shall be held by the Corporation in trust for the purposes of this Act subject to the provisions herein contained and a General Account relating to all moneys received by or on behalf of the Corporation shall be maintained.]

1. Omitted by Act 67 of 1993, s. 72 (w.e.f. 1-10-1993).

2. Subs. by s. 72, ibid., for sub-section (2) (w.e.f. 1-10-1993).

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