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[Cites 0, Cited by 0] [Section 108(1)] [Section 108] [Entire Act]

Union of India - Subsection

Section 108(1)(a) in Motor Vehicles Act, 1939

(a)the society shall establish and maintain a fund of not less than twenty-five thousand rupees for the first fifty vehicles or fractional part thereof and pro rata for every additional vehicle in the possession of [members of, and insured with, the society subject to a maximum of one hundred and fifty thousand rupees] [Substituted by Act 100 of 1956, section 79, for 'members of the society' (w.e.f. 16-2-1957).] and the said fund shall be lodged in such custody as the [State Government] [Substituted for the words 'Provincial Government' by A.L.O., 1950.] may prescribe and shall not be available for meeting claims or other expenses except in the event of the winding up of the society;