45. (1) The 2[Corporation] shall pay from the 3[Corporation Fund] to the Authority on the first day of each quarter, so long as the Authority continue to exist, a sum equivalent to one-half per cent per quarter on the annual value determined under Chapter V of the 4[Chittagong City Corporation Ordinance, 1982 (Ord. No. XXXV of 1982)] as it stood on the first day of the last preceding quarter:
Provided that if this Ordinance is directed to come into force during a quarter, the amount of the first of such payments shall bear such proportion to the sum payable hereunder as the unexpired portion of that quarter bears to the whole quarter.
(2) The payments prescribed by sub-section (1) shall be made in priority to all other payments due from the 5[Corporation].
The word “Corporation” was substituted for the words, commas, figures and brackets “Municipal Committee, except those referred to in section 32 of the Municipal Administration, 1960 (Ord. No. X of 1960)” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)
