(1)The authorised capital of the Authority shall be ten corers of rupees divided into ten thousand shares of ten thousand rupees each, or which two thousand fully paid up shares of ten thousand rupees each, shall be issued in the first instance, and the remaining shares, may, with the prior sanction of the State Government, be issued from time to time by the Authority as and when the Authority may deem fit.(2)The State Government and the Central Government shall subscribe, in such proportion as may be mutually determined by them, to the share capital to be issued in the first instance.(3)Subsequent issues of share capital may be subscribed to by the State Government and the Central Government in such proportion as may be mutually determined.(4)The State Government may from time to time increase the authorised capital of the Authority to such extent as the State Government may deem necessary.
