The Road Transport Corporations Act, 1950
Section 29. Provision for depreciation and reserve and other funds.
(1) A Corporation shall make such provisions for depreciation and for reserve and other funds as the State Government may, from time to time, direct.
(2) The management of the said funds, the sums to be carried from time to time to the credit thereof and the application of the moneys comprised therein shall be determined by the Corporation:
Provided that no fund shall be utilised for any purpose other than that for which it was created without the previous approval of the State Government.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
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