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[Cites 0, Cited by 0] [Section 360(1)] [Section 360] [Entire Act]

State of Gujarat - Subsection

Section 360(1)(a) in The Gujarat Provincial Municipal Corporations Act, 1949

(a)30 percent of the surplus shall be credited, under a separate heading in the accounts maintained under section 361 to a special fund to be called the "Revenue Reserve Fund" unless the balance in the said Revenue Reserve Fund, with such credit, would exceed such sum as the Corporation shall, with the sanction of the [State] [This order was substituted for the word 'Provincial' by the Adaptation of Laws, Order, 1950.] Government fix, in which case only such sum, if any, as is required to bring the balance to the sum so fixed shall be so credited and the remainder of the surplus, upto 30 percent, thereof, shall be added in equal shares to the amounts credited or transferred under clauses (b), (c) and (d);