Madhya Pradesh Municipal Corporation (Minimum Cash Balance) Rules, 1974

The Madhya Pradesh Municipal Corporation (Minimum Cash Balance) Rules, 1974

Published vide Notification No. 403-18-1-74, dated 16-7-1974. Published in M.P. Rajpatra, Part 2, dated 30-8-1974 at page 595

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In exercise of the powers conferred by clause (c) of sub-section (2) of Section 433 read with sub-clause (iii) of clause (a) of sub-section (1) of Section 97 of Madhya Pradesh Municipal Corporation Act, 1956 (23 of 1956) and in supersession of all rules previously made on the subject, the State Government hereby make the following rules the same having been previously published as required by sub-section (1) of Section 433 of the said Act, namely :

1. These rules may be called the Madhya Pradesh Municipal Corporation (Minimum Cash Balance) Rules, 1974.
2. The sum of the cash balance of the Corporation, referred to in sub-clause (iii) of clause (a) of sub-section (1) of Section 97 of the Madhya Pradesh Municipal Corporation Act, 1956 (23 of 1956) at the end of the financial year shall not be less than five per cent of its recurring annual income.