ENACTMENT NO. 13 OF 1994
STATE AMAL JARIAH FUND ENACTMENT 1994



Section 6. Powers of the Board.

The Board shall have the following powers: (2) The Board shall hold in trust all sums of money donated or bequested for the purpose of the Fund and all investments at any time representing the same or any part thereof and all income arising there from subject to the provisions of this Enactment.

(3) The income, capital and property of the Fund wheresoever derived, shall be applied solely towards the promotion of the objects of the Fund and no portion thereof shall be paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit.

(4) The Board shall, out of the Fun, pay all costs and expenses of or incidental to the management of the Fund including payment of reasonable allowances to the members of the Board, or the execution of any of the trusts or powers provided under this Enactment.




Copyright © PNMB-LawNet. All rights reserved.