The New Delhi Municipal Council Act

Constitution of the New Delhi Municipal Fund

New Delhi Municipal Fund to be kept in the State Bank of India

Operation of the Accounts

Payments not to be made unless covered by a budget-grant

Duty of persons signing cheques

Procedure when money not covered by a budget-grant is expended

Application of New Delhi Municipal Fund

Temporary payments from the New Delhi Municipal Fund for works urgently required for the public service

Investment of surplus moneys

Constitution of Finance Commission


The New Delhi Municipal Fund


(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.

LAWGIST

# 52 Investment of surplus moneys