Section 61(11) in Mising Autonomous Council Act, 1995
(11)Surplus moneys standing at the credit of the General Council or the village council, as the case may be, at the end of the financial year, shall be invested in accordance with such bye-laws as may be made by the General Council in this behalf.Provided that no funds standing at the credit of the General Council or the village council, as the case may be, shall be lapsed but shall be carried over to the budget of the next financial year.
