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[Cites 0, Cited by 0] [Section 460LL(1)] [Section 460LL] [Entire Act]

State of Maharashtra - Subsection

Section 460LL(1)(a) in The Mumbai Municipal Corporation Act, 1888

(a)30 per cent of the surplus shall be credited under a separate heading in the accounts maintained under section 460MM to a special fund to be called the Revenue Reserve Fund', unless the balance in the said Revenue Reserve Fund, with such credit, would exceed fifty lakhs of rupees, in which case only such sum, if any, as is required to bring the balance to fifty lakhs of rupees shall be so credited and the remainder of the surplus, up to 30 per cent thereof, shall be added in equal shares to the amounts credited or transferred under clauses (b), (c)and (d);