State Act
3
Section 3. Constitution of the Fund.
The Punjab Municipal Infrastructure Development Fund Act, 2011
Act no. 11 of 20112011In forcePunjab (State Act)
3. (1) There shall be constituted a Fund, to be called the Punjab Municipal Infrastructure Development Fund, which shall vest in the State Government. 1[(2) The grant-in-aid shall be deposited into the Fund: Provided that the amount of grant-in-aid, so deposited into the Fund, shall not be less than Rs.200 crore (Two hundred crore rupees) per annum or proportion thereof: Provided further that the amount of grant-in-aid shall increase at the rate of fourteen per cent per annum over the previous year: Provided further that the amount of grant-in-aid shall be deposited into the Fund on monthly basis.] 2[(3) ****]