LawgistThe New Delhi Municipal Council Act
52Investment of surplus moneys
(1) Surplus money standing at the credit of General Account of the New Delhi Municipal Fund which cannot immediately be applied for the purposes specified in section 50 shall be deposited in the State Bank of India or in such scheduled bank or banks as the Council may select or be invested in public securities
(2) The loss, if any, arising from such deposit or investment shall be debited to the General Account of the New Delhi Municipal Fund.
Download our fully-offline, High speed android app.- Click here
The New Delhi Municipal Fund
- 44 Constitution of the New Delhi Municipal Fund
- 45 New Delhi Municipal Fund to be kept in the State Bank of India
- 46 Operation of the Accounts
- 47 Payments not to be made unless covered by a budget-grant
- 48 Duty of persons signing cheques
- 49 Procedure when money not covered by a budget-grant is expended
- 50 Application of New Delhi Municipal Fund
- 51 Temporary payments from the New Delhi Municipal Fund for works urgently required for the public service
- 52 Investment of surplus moneys
- 53 Constitution of Finance Commission
