Panchayat:Repo18/Law Manual Page1124

96. Power of Government to make regulations. The Government shall have power to make regulations for ensuring performance of the functions of the Kerala Urban Art Commission as provided in this Act.

CHAPTER XIII
FINANCE, ACCOUNTS AND AUDIT

97. Planning and Development Fund.- (1) Every Municipal Corporation, Municipal Council, Town Panchayat, Village Panchayat or Development Authority shall maintain a separate fund called Planning and Development Fund for the purposes of this Act, to which shall be credited, — CO SME (a) any sum of money received from the Government or any other State, National or International agency by way of grants, loans, advances, or otherwise for the performance of functions under this Act;

(b) all development charges or other charges or fees received under this Act or rules made thereunder;

(c) contributions from the fund of the Municipal Corporation, Municipal Council, Town Panchayat or Village Panchayat concerned;

(d) any sum of money borrowed under Section 110 from the market, with the approval of Government by way of debentures, bonds and other means in the manner prescribed;

(e) any sum of money earned from remunerative projects by way of rent or otherwise and disposal of its assets; and

(f) any other sum of money received by the Municipal Corporation, Municipal Council, Town Panchayat or Village Panchayat concerned from any other source for performing its functions under this Act.

(2) The Planning and Development Fund shall be applied towards meeting the following expenses, namely:

(a) the expenditure incurred in the administration of this Act;

(b) the cost of acquisition of land in the local planning area for purposes of planned development under this Act;

(c) the expenditure for infrastructure development and development of land in the local planning area as envisaged in the Plans under this Act;

(d) any expenses incurred by the Municipal Corporation, Municipal Council, Town Panchayat or Village Panchayat concerned in connection with preparation of Plans under this Act; and

(e) the expenditure for such other purposes not inconsistent with the provisions of this Act.

98. Fund of the Board, the District Planning Committee and the Metropolitan Planning Committee.- The Board, the District Planning Committees, the Metropolitan Planning Committees and the Development Authorities may, if so permitted by the Government, maintain a separate fund to which shall be credited all the money received by them under this Act and shall be applied towards meeting the expenses for discharging their functions under this Act.

99. Contributions by the Municipal Corporations, Municipal Councils, etc. to the Planning and Development Fund and other funds.— (1) Every Municipal Corporation, Municipal Council, Town Panchayat or Village Panchayat concerned at the beginning of each financial year shall contribute a sum equivalent to half per cent of the total sum of money credited