State Act
109
Section 109. Investments of surplus money
THE ORISSA TOWN PLANNING & IMPROVEMENT TRUST ACT, 1956
Act no. 10 of 19571957In forceOdisha (State Act)
109 - Investments of surplus money :- (1) Surplus moneys at the credit of the said account may from time to time be - (a) deposited at interest in the Bank aforesaid or in any other Bank approved by the State Government in this behalf, or (b) invested in any of the securities or debenture as may be approved by the State Government. (2) All such deposits and investments shall be made by the Chairman on behalf of and with the sanction of the Planning authority; and with the like sanction the Chairman may at any time withdraw any deposit so made, or dispose of any securities, and redeposit or re-invest the money so withdrawn or the proceeds of the disposal of such securities.