ENACTMENT NO 4 OF 1955 ADMINISTRATION OF MUSLIM LAW ENACTMENT, 1955 (1374H)
PART V - FINANCIAL General Endowment Fund
Section 57. General Endowment Fund
(1) All property, investments and funds, including the fund heretofore constituting the Bait-ul-Mal, which are vested from time to time in the Corporation for the purposes of this Enactment, other than
(a) property held, by virtue of the terms of this affecting the same for a specific purpose, or subject to specific express trusts, together with the income thereof;
(b) all fees, fines and forfeitures collected or imposed by this Enactment or by the rules made hereunder;
(c) the interest on all deposits left by the Corporation in the State Treasury so long as they remain in the custody of the State Treasury,
shall form the Genera Endowment Fund of the Corporation and shall be held by the Corporation in trust for such charitable purposes for the support and promotion of the Religion of Islam or for the benefit of Muslims in the State in accordance with Muslim law, as to His Highness the Sultan on the advice of the Majlis may from time to time seem proper:
Provided that-
(i) His Highness the Sultan may give directions, not inconsistent with Muslim law or with the provisions of this Enactment, for the collection or expenditure of any part of the Fund or the income thereof and may, in like manner, forbid any proposed expenditure thereof;
(ii) Any investments, assets and funds vested in the Corporation may be sold, realised and disposed of, and they and the proceeds thereof may be invested from time to time in any investments authorized by any written law for the time being in force for the investment of trust funds.
(2) The monies arising from the sources mentioned (b) and (c) of sub-section (1) of this section shall be aid by the Corporation to the State Treasurer for the benefit of the State.