Section 86State of Maharashtra Act
Section 86: Mumbai Building Repairs and Reconstruction Fund
Mumbai Building Repairs and Reconstruction Fund.
(1)
The proceeds of the cess collected and paid to the State Government by the Bombay Corporation in pursuance of the provisions of the last preceding section shall first be credited to the Consolidated Fund of the State; and, after deducting the rebate payable to the [Mumbai Corporation] [These words were Substituted for the original by Maharashtra 25 of 1996, Section 2, Schedule para (3).] for the cost of collection, the remaining amount shall, under appropriation duly made by law in this behalf, be transferred to the fund of the Authority. There shall, however, be created a separate fund called [the Mumbai Building Repairs and Reconstruction Fund] [These words were Substituted for the original by Maharashtra 25 of 1996, Section 2, Schedule para (3).] (in this Chapter referred to as "the Repairs Fund") and the amount so transferred to the fund of the Authority shall be withdrawn therefrom and transferred to such Repairs Fund.(2)
The amount transferred to the Repairs Fund under sub-section (1) shall be charged on the Consolidated Fund of the State.(3)
The amount in the Repairs Fund shall be placed by the Authority at the disposal of the Board for being expended for the purposes of this Chapter. The State Government may make rules regulating all matters connected with the Repairs Fund, including the manner in which that Fund shall be maintained, operated and expended.Previous
Sec 85 — [Mumbai Corporation to credit cess amount to Government. - Within a period of fifteen days from the date of recovery of the cess, the amount so recovered shall, after deducting therefrom the amount equal to five per cent of the amount of cess recovered by it, be paid by the Mumbai Corporation to the State Government.] [Section 85 was substituted by Maharashtra 16 of 1998, Section 3, (w.e.f. 15-5-1998.)]
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Sec 87 — Default of [Mumbai Corporation] [These words were Substituted for the original by Maharashtra 25 of 1996, Section 2, Schedule para (3).] in collecting or paying cess
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