Road Transport Corporations Act,1950

Act No : 64

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Section : Provision for depreciation and reserve and other funds.

29. Provision for depreciation and reserve and other funds. (1) A Corporation shall make such provisions for depreciation and for reserve and other funds as the State Government may, from time to time, direct. (2) The management of the said funds, the sums to be carried from time to time to the credit thereof and the application of the moneys comprised therein shall be determined by the Corporation: Provided that no fund shall be utilised for any purpose other than that for which it was created without the previous approval of the State Government. ----------------------------------------------------------------------- 1 S. 26 renumbered as sub section (1) of that section by Act 28 of 1959, s. 5 2 Ins. by s. 5, ibid. 3 Subs. by Act 63 of 1982, s. 13 (w.e.f. 13-11-1982). 4 Ins. by S.14, ibid. (w.e.f. 13-11-1982). 5 Subs. by s. 16 & Sch., ibid. (w.e.f. 13-11-1982). ----------------------------------------------------------------------- 186

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