CUMTA Rules 9
Section 9 · Fund of the Authority
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(1)
Any surpluses available in the Fund of the Authority shall be invested in accordance with the instructions and guidelines issued, from time to time by the Government in Finance Department as applicable to the Statutory Boards and Authorities.(2)
The Fund of the Authority shall be kept in an account with any branch of one or more scheduled banks or commercial banks, not exceeding seven in all at a time, to be opened in the name of "Chennai Unified Metropolitan Transport Authority" and shall be operated by the Member-Secretary of the Authority along with any officer authorized in this behalf by the Authority.Your private note on this section
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