Lawgist36Vesting, custody and investment of district fund
(1) The district fund shall be vested in the district board, and the balance standing at the credit of the fund shall be kept in the Government treasury or sub-treasury or in the bank to which the Government treasury business has been made over, unless the Local Government in any cases otherwise permits.
(2) Subject to such rules as the 7[Local Government, subject to the control of the] Governor General in Council may make in this behalf, the district board may, with the previous sanction of the Local Government, invest any portion of the district fund in securities of the Government of India or such other securities as the 1[Local Government, subject to the control of the] Governor General in Council may approve in this behalf, and vary such investments for others of the same nature, or dispose of them. The income resulting from the securities, and the proceeds of the sale of the same, shall be credited to the district fund.
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1. Ins. by s. 2 and the Schedule.
- 1 Short title
- 2 Repeal of Act V of 1878
- 3 Definitions
- 4 Powers exercisable from time to time
- 5 The local rate
- 6 Road, school and post cesses to merge in the rate
- 7 Liability for local rate
- 8 Power to recover a share of the rate from occupancy-tenant
- 9 Appropriation of proceeds of local rate
- 10 Establishment of district and local boards
- 11 Number and appointment or election of members
- 12 Term of office of members
- 13 Resignation of members
- 14 Powers of the Local Government as to removal of mothers
- 15 Filling of casual vacancies
- 16 Incorporation of district boards
- 17 Time for district and local boards coming into existence
- 18 Chairman
- 19 Vice-chairman
- 20 Duties of district board
- 21 Duties of local board
- 22 Limits on expenditure of local board
- 23 Power for district board to provide for performance of duty in default of local board
- 24 Joint committees
- 25 Record and publication of proceedings
- 26 Power to make rules as to business and affairs
- 27 Employment of officers and servants
- 28 Pensions of Government officials serving boards
- 29 Pensions of servants of boards
- 30 Powers of taxation conferred on district boards
- 31 Procedure in imposing taxes
- 32 Reduction and abolition of tax
- 33 Levy of fees
- 34 Additional funds to be provided by the Government
- 35 District fund
- 36 Vesting, custody and investment of district fund
- 37 Application of district fund
- 38 Works or undertakings benefiting several districts
- 39 Annual estimates of income and expenditure of district boards
- 40 Accounts of district boards
- 41 Estimates and accounts of local boards
- 42 Inspection of estimates and accounts
- 43 Publication of abstract of accounts
- 44 Control of Commissioner and Deputy Commissioner over boards and joint committees
- 45 Power to suspend action
- 46 Extraordinary powers of Deputy Commissioner in ease of emergency
- 47 Power to provide for performance of duties in case of default of board
- 48 Power to invest other officers with power of control
- 49 Report of action under preceding sections
- 50 Powers of Local Government and its officers over boards
- 51 Power of Local Government to supersede in case of incompetency, persistent default abuse of powers
- 52 Consequences of supersession
- 53 Constitution of new board, and transfer of functions of superseded local boards
- 54 Disputes
- 55 Power of the Governor General in Council and the Local Government to make rules
- 56 Power to make regulations
- 57 Penalty for infringement of regulations
- 58 Prosecutions
- 59 Liability of members of boards
- 60 Procedure for making rules and regulations
- 61 Acquisition of land
- 62 Penalty on member, officer or servant being interested in contracts made with a board or joint committee
- 63 Saving for Act XI of 1879
- 64 General powers of Local Government and Commissioners
- 65 Contracts of local Committees
- 66 Government officers serving under committees to continue under board
- 67 Power of Local Government to except local area from operation of Act
- 68 Committee to be constituted for district wholly excepted from Act
- 69 Power to direct that Act XX of 1856 shall cease to be in force
- 70 Recovery of rates
- 71 Local rate or tax how to be assessed and collected
- 72 Appeals
- 73 Instalments of rates and taxes
- 74 Power of Local Government to exempt from taxation
- 75 Power to direct measurements
- 76 Suits relating to rates and taxes under this Act cognizable by Courts having cognizance of suits for rent
- 77 Confirmation and recovery of existing rates
- 78 [Repealed.]
- 79 [Repealed.]
