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Start Free TrialAir Corporations Act, 1953 Complete Act
State: Central
Year: 1953
.....with either of the Corporations. SECTION 09: CORPORATIONS TO ACT ON BUSINESS PRINCIPLES - In carrying out any of duties vested in it by this Act, each of the Corporations shall act so far as may be on business principles. CHAPTER 03: FINANCE, ACCOUNTS AND AUDIT SECTION 10: CAPITAL OF THE CORPORATIONS - (1) All non-recurring expenditure incurred by the Central Government for, or in connection with, each of the Corporations up to the date of establishment of that Corporation and declared to be capital expenditure by that Government, shall be treated as capital provided by the Central Government to that Corporation. (2) The Central Government may provide any further capital that may be required by either of the Corporations for the carrying on of the business of the Corporation or for any purpose connected therewith on such terms and conditions as the Central Government may determine. (3) Each of the Corporations may, with the consent of the Central Government, or in accordance with the terms of any general authority given to it by the Central Government- (a) borrow money for all or any of the purposes of the Corporation, and (b) secure the payment of any money.....
List Judgments citing this sectionBombay Reorganisation Act, 1960 Complete Act
State: Central
Year: 1960
.....pass to the State in which the principal seat of business of the undertaking is located. (5) Where any body corporate constituted under a Central Act, State Act or Provincial Act for the State of Bombay or any part thereof has, by virtue of the provisions of Part II, bcoaw an inter-State body corporate, the investments in, or loans or advances to, any such body crporatc by the State of Bombay made before the appointed day shall, save as otherwile exprcsgiy.providcd by or under this Act, be divided between the States of Maharashtra and Oujarat in the iame proportion in which the assets of the body corporate are divided under the provisions of Part VII. SECTION 52: Special Revenue Reserve Fund in Gujarat: (1) Out of the investments in the cash balance investment account which remain with the State of Maharashtra after giving effect to the provisions of (section 51), such securities of the value of 1,420 lakhs of rupees as the Central Government may by order specify shall stand transferred to the State of Gujarat. (2) There shall be constituted in the State of Gujarat a Fund to be called the Special Revenue Reserve Fund consisting of the securities transferred to that.....
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