Application of Municipal Funds.

(1) The Municipal Fund shall be charged with the payment of expenses on - (i) fulfilment of any liability or obligation arising from trust legally imposed upon or accepted by the Municipality; (ii) the municipal establishment including such subscriptions and contributions as are payable by the Municipality under this Regulation and the rules made thereunder; (iii) auditing the accounts of the Municipality; (iv) such other matters as may be specified by the Administrator from time to time. (2) Subiect to the charges specified in sub-section (1) and to such rules as may be made by the Administrator with respect to the priority to be given to the several duties of the Municipality, the Municipal fund shall be applicable to the payment of expenses incurred for the purpose of any object or duty which is to be or may be undertaken by the Municipality in accordance with the provisions of this Regulation.