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Surplus or deficiency in income of Bank during financial year
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42. (1) If the total sum received by the Bank on account of—
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(a) any levies and fees prescribed under sections 40 and 41, respectively, and
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(b) any levies prescribed by the Central Bank Commission under section 32D of the Act of 1942 in respect of the performance of its functions under this Act,
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during a financial year is greater than the Bank’s expenditure on the performance of its functions under this Act during that financial year, the Bank—
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(i) shall apply the surplus to the performance of those functions in the following financial year, and
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(ii) shall reduce the levies and fees so prescribed in relation to the latter financial year accordingly.
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(2) If the sum received by the Bank on account of—
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(a) levies and fees prescribed under sections 40 and 41, respectively, and
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(b) any levies prescribed by the Central Bank Commission under section 32D of the Act of 1942 in respect of the performance of its functions under this Act,
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during a financial year is less than the Bank’s expenditure on the performance of its functions under this Act during that financial year, the Bank may prescribe levies and fees in relation to the following financial year sufficient to—
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(i) make good the deficiency, and
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(ii) ensure that the sum received by the Bank on account of such levies and fees during the following financial year fully covers the performance of its functions during both of those financial years.
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