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02/11/2024
Laws of Bangladesh

The Chittagong Development Authority Ordinance, 1959 (East Pakistan Ordinance)

( Ordinance NO. LI OF 1959 )

Chapter V

FINANCE

Contribution from 1[Corporation Fund]
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].

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