Section 55 of The Bharatpur Development Authority Act, 2025 — Loans Fund
Bare section text
Official Legislative Text
- (1)As a part of the Fund, the Authority shall establish in distinct Bank accounts a Loans Fund for the purpose of
- (a)receiving all moneys borrowed by it including all repayments of loan instalments together with payment of interest made by the borrower on loans,
- (b)providing all moneys to be made available by the Authority as loans or advances to local authorities and other authorities or persons,
- (c)repayment of loans raised by the Authority for the purposes of this Act, and
- (d)expenditure on projects and schemes.
- (2)All matters connected with the Loans Fund shall be governed by the regulations made in this behalf.