Section 101(3) in West Bengal Municipal Corporation Act, 2006
(3)For financial investment from the Corporation Fund, either in any business proposed to be done by the Corporation itself, or Joint Venture basis, or Partnership basis mentioned in sub-section (1), existence of one of the following conditions shall be necessary:-(a)the Corporation shall not have any deficit budget in the last three preceding financial years: or(b)the Corporation shall be sure of earning profit from such Joint Venture or Partnership Business before completion of one year from the date of entering into such venture or business; or(c)the fund is required to be used in such project in order to ensure safety of a certain Corporation Property, and the Corporation is sure of earning profit within a period of five years from the date of such investment.
