Section 86 in Maharashtra Housing and Area Development Act, 1976
86. 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(in this Chapter referred to as "the Repairs Fund") and the amount so transferred to the fund of the Authority shall be withdrawn therefrom and transferred to such Repairs Fund.(2)The amount transferred to the Repairs Fund under sub-section (1) shall be charged on the Consolidated Fund of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.
