Section 66 in The Andhra Pradesh Municipalities (Preparation of Accounts) Rules, 2017
66. Asset Replacement Register.
(1)The Council shall maintain a separate Asset Replacement Fund for replacement of fixed assets, by transfer of amounts equivalent to the depreciation provision made for the accounting year.(2)The amounts shall be transferred from General Fund. A separate bank account shall be maintained to deposit the amounts relating to Asset Replacement Fund.(3)The Asset Replacement Register shall be maintained asset class-wise to record the amounts transferred for the purpose.(4)The Asset Replacement Register shall be maintained in Form No.35
