Section 42: Capital Development Authority Fund.⎯ (1) There shall be formed a fund to be known

42. Capital Development Authority Fund.⎯ (1) There shall be formed a fund to be known as the “Capital Development Authority Fund” which shall vest in the Authority and shall be utilized by the Authority to meet charges in connection with its functions under this Ordinance including the payment of salaries and other remuneration to the Chairman, members, officers, servants, experts, and consultants of the Authority. (2) To the credit of Capital Development Authority Fund shall be placed,⎯ (a) grants made by the 1[Federal Government]; (b) loans obtained from the 1[Federal Government]; (c) grants made by local bodies; (d) sale proceeds of movable and immovable property and receipts for services rendered; (e) loans obtained by the Authority with the special or general sanction of the 1[Federal Government]; (f) foreign aid and loans obtained from the International Bank of Reconstruction and Development or from any other source outside Pakistan, with the sanction of, and on such terms as may be approved by, the 1[Federal Government]; and (g) all other sums receivable by the Authority.

Effective date: 1960-01-01

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