(1)All sums received on account of the municipal fund shall be paid into the treasury.Note. - At places where the cash business of the treasury is conducted through Banks, cheques on local banks may be accepted in payment of municipal dues or in settlement of other transactions with the Municipality, if the cheques inclusive of the collection charges have been crossed by the drawer. Until, however, a cheque has been cleared the Council can not admit that payment has been received and consequently final receipt shall not be granted when a cheque is transferred. A receipt for the actual cheque only may be given in the first instance, and the formal receipt shall be granted to him, after the cheque has been cleared.
