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[Cites 0, Cited by 0] [Section 55] [Entire Act]

State of West Bengal - Subsection

Section 55(3) in Gorkhaland Territorial Administration Act, 2011

(3)
(i)The allocation sanctioned in the budget of the Fund and all funds sanctioned by the State Government or the Central Government which remain unspent at the close of the financial year shall be taken into account for the purpose of providing additional resources in the Budget of the following year or years and the fund requirements shall be met on a yearly basis.
(ii)The Gorkhaland Territorial Administration may, subject to the provisions of any law relating to the raising of loans by local authorities, raise with approval of the Government loans for the purposes of this Act and create a sinking fund for the repayment of such loan.