Statement
The municipal corporation has given permission for holding fun fairs in the local football ground during the holiday season.
Assumptions
I. The local residents may protest against the corporation's decision.
II. Many people may not participate in the fun fair.
III. Only children are allowed to take part in the fun fair.

The step taken by municipal corporation aims at providing good entertained for local residents during the holidays. No doubts, the municipal corporation must be assuming that local residents will take part in it to enjoy. Assumptions I and II go against this assumption and hence they are not valid. Assumption III is also not implicit because of the word 'only'.