Section 44. Constitution of the New Delhi Municipal Fund

CHAPTER VII REVENUE AND EXPENDITURE The New Delhi Municipal Fund 44. Constitution of the New Delhi Municipal Fund.— (1) Save as otherwise provided in this Act — (a) all funds which immediately before the establishment of the Council vested in the New Delhi Municipal Committee; (b) all moneys received by or on behalf of the Council 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 Council; (d) all rents accruing from any property of the Council; (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 Council from the Government or Central Government or any individual or association of individuals by way of grant or gift or deposit; (h) all interests and profits arising from any investment of, or from any transaction in connection with, any money belonging to the Council, including loans advanced under this Act; and (i) all moneys received by or on behalf of the Council from any other source whatsoever, shall form one Fund to be entitled "the Municipal Fund of New Delhi" (hereafter in this Act referred to as "the New Delhi Municipal Fund"). (2) The New Delhi Municipal Fund shall be held by the Council 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 Council shall be maintained. — 45. New Delhi Municipal Fund to be kept in the State Bank of India. All moneys payable to the credit of the New Delhi Municipal Fund in the General Account shall be received by the Chairperson and shall be forthwith paid into the State Bank of India to the credit of the said Account which shall be entitled "The General Account of the New Delhi Municipal Fund".