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THE JAMMU AND KASHMIR (ADMINISTRATION OF PROPERTY) ORDINANCE, 1961 THE JAMMU AND KASHMIR (ADMINISTRATION OF PROPERTY) ORDINANCE, 1961 ORDINANCE No. III of 1961 [13th February, 1961] An Ordinance to vest in the Central Government certain immov able properties which vested in the State of Jammu and Kashmir on the fifteenth day of August, 1947, and to provide for matters connected therewith. 4. Deposit of sale proceeds etc.,---(1) The proceeds of any sale effected under section 3 shall be deposited in a special account to be called "The Sale Proceeds Account of Immovable Property of Jammu and Kash mir State". (2) No portion of the amounts deposited in the said account shall be utilized except for a purpose connected with the rehabi litation of refugees from the State of Jammu and Kashmir.