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The Town Improvement Act, 1953 (East Bengal Act)

( ACT NO. XIII OF 1953 )

Chapter VI


Budget Estimates

Investment of surplus moneys
130. (1) Surplus moneys at the credit of the said account may from time to time be-
(a) deposited at interest in the 1[Bangladesh Bank] or in any other Bank in 2[Dhaka] approved by the Government in this behalf, or
(b) invested in any of the securities or debentures mentioned in sub-section (1) of section 115 of this Act or section 20 of the Trusts Act, 1882.
(2) All such deposits and investments shall be made by the Chairman on behalf of, and with the sanction of, the Kartripakkha; and with like sanction, the Chairman may at any time withdraw any deposit so made or dispose of any securities, and re-deposit or re-invest the money so withdrawn or the proceeds of the disposal of such securities.

  • 1
    The words “Bangladesh Bank” were substituted for the words “State Bank of Pakistan” by section 2 of the Town Improvement (Amendment) Act, 1987 (Act No. XXIX of 1987)
  • 2
    The word “Dhaka” was substituted for the word “Dacca” by section 40 of the Town Improvement (Amendment) Act, 1987 (Act No. XXIX of 1987)
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