ENACTMENT No. 9 Of 1962 ADMINISTRATION OF MUSLIM LAW ENACTMENT
PART IV - FINANCIAL
Section 89. Establishment of General Endowment Fund.
(1) A fund to be known as General Endowment Fund is hereby established. Except as otherwise provided under the provisions of this Enactment such Fund shall consist of all money and property, movable or immovable, which by Muslim Law or under the provisions of this Enactment or rules made hereunder accrues or is contributed by any person or payable to the Fund.
(2) All Baitul-Mal money collected in accordance with this part and all that money now already collected and deposited with the Treasury shall be paid into the Fund but shall be accounted for in a separate account of the Fund known as the Baitul-Mal Account.
(3) All money and property in the General Endowment Fund shall be vested in the Majlis who shall administer all such money and property in accordance with the rules made under this Enactment:
Provided that any investments of assets and funds invested in the Majlis may be sold, realised and disposed of, and they and the proceeds thereof may be invested from time to time in any investments authorised by any written law for the time being in force for investment of trust funds.
(4) Subject to the provisions of this Enactment the Majlis, with the approval of His Highness, may make rules for collection, administration and distribution of all property of the General Endowment Fund.