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The Khulna Development Authority Ordinance, 1961 (East Pakistan Ordinance)

( Ordinance NO. II OF 1961 )

Chapter V


Contribution from 1[Corporation Fund]
47. (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 continues to exist, a sum equivalent to one half per cent per quarter on the annual value determined under the 4[Khulna City Corporation Ordinance, 1984 (Ord. No. LXXII of 1984)], 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].

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