Section 17 in Himachal Pradesh City Transport and Bus Stands Management and Development Authority Act, 1999
17. Funds of the Authority.
(1)The Authority shall have its own fund and all receipts of the Authority shall be credited thereto and all payments of the Authority shall be made therefrom.(2)The Authority shall have power, subject to the provisions of this Act to spend such sums as it thinks fit to cover all administrative expenses of the Authority and on objects or for purposes authorised by this Act and such sums shall be treated as expenditure out of the fund of the Authority.(3)All money standing at the credit of the Authority which cannot immediately be applied as provided in sub-section (2) shall be deposited in the State Bank of India or in such Scheduled Bank or Banks and subject to such conditions as may from time to time be specified by the Government. Explanation: In this sub-section "Scheduled Bank" has the same meaning as assigned to it in clause (e) of section 2 of the Reserve Bank of India Act, 1934.
