3A. [ Levy of toll by company or corporation. [Inserted by Kerala Act No. 34 of 1986.]
(1)A company or a corporation may levy a toll on every motor vehicle entering a bridge constructed by it at the instance of the Government, utilising wholly or partly its own funds or funds raised by it by loans from financial institutions, and declared open for traffic after the commencement of the Kerala Tolls (amendment) Act, 1986.(2)The toll under sub-section (1) shall be levied at such rate and for such period as the Government may, by notification in the gazette, declare to be necessary for the recovery of the amounts expended upon such bridge by the company or the corporation or such portion thereof as may be decided by the Government, together with interest and other overhead charges, at such rates as they may fix.(3)The toll leviable under this section shall be collected by the company or the corporation, as the case may be, in such manner and in accordance with such rules as may be prescribed.(4)Any person employed in the management and collection of toll under this section shall be liable to the same responsibilities as would belong to him if employed in the collection of basic tax.(5)The proceeds of the toll collected by a company or a corporation under this section shall be utilised,-(a)for recouping any amount spent by such company or corporation from its own funds and interest thereon ;(b)for repayment of the principal amount of any loan obtained by such company or corporation from any financial institution for the purpose of constructing the bridge in respect of which the toll is levied and the interest thereon; and(c)for meeting the expenses of collection and recovery of the toll and other overhead charges as may be determined by the Government.(6)The company or the corporation, as the case may be shall furnish to the Government or to such officer or authority as may be specified by the Government in this behalf, accounts regarding the levy and collection of tolls and the utilisation thereof ,in such manner, at such intervals and in such form as may be prescribed.(7)Where the Government have expended any amount on the construction of a bridge in respect of which tolls is leviable under this section, toll may be levied by the Government under section 3 after the expiry of the period of collection of toll under this section.]
