Section 31 of The Road Transport Corporations Act, 1950
Power of the Corporation to spend.
A Corporation shall have power to spend such sums as it thinks fit on objects authorised under this Act and such sums shall be treated as expenditure payable out of the fund of the Corporation.
Summary
- This section gives the corporation the legal power to spend its money.
- The spending must be on activities or objects that are allowed under the law.
- All authorized costs are considered official expenses that come out of the corporation's own fund.
- This provision makes sure the corporation has the authority to pay for things needed for its business operations.
Practical examples
FAQ
1. What gives a transport corporation the authority to buy fuel under the Road Transport Corporations Act?
Section 31 of the Road Transport Corporations Act, 1950, gives the corporation the power to spend money on objects authorized under the Act.
2. Where does the money for expenses come from under Section 31 of the Road Transport Corporations Act, 1950?
According to Section 31 of the Road Transport Corporations Act, 1950, these sums are treated as expenditure payable out of the fund of the corporation.
3. Can a corporation spend money on anything it wants under the Road Transport Corporations Act?
No, Section 31 of the Road Transport Corporations Act, 1950, specifies that spending must be on objects authorized under the Act.
Test yourself
1.Under Section 31 of the Road Transport Corporations Act, 1950, what determines if an expense is allowed?
2.Sums spent under Section 31 of the Road Transport Corporations Act, 1950, are paid out of which source?
3.How does Section 31 of the Road Transport Corporations Act, 1950, describe the power to spend?
4.Does Section 31 of the Road Transport Corporations Act, 1950, allow spending on unauthorized activities?