Section 62A in The Gujarat Housing Board Act, 1961
62A. [ Revolving Fund. [Section 62A was inserted by Gujarat 1 of 1973, section 42.]
(1)Notwithstanding anything contained in section 61, the Board may create a fund to be called Revolving Fund into which shall be credited all proceeds which may be received by or on behalf of the Board in respect of sales on instalments basis, of any building or any units therein, constructed or reconstructed by the Board under a housing scheme.(2)The Revolving Fund shall be held and applied solely for the purpose of construction or reconstruction of buildings under a housing scheme.]
