Religious Fund

B. Religious Fund.

1. (I) There shaII be established by the Board a reIigious fund for the purposes of propagating the Sikh religion and matters connected therewith, to which shall be contiibuted by every committee of management of notified Sikh Gurdwaras as follows :

1. (a) five per centurn of its gross annual income in the case oEa committee having gross annual income exceeding five thousandrupees, but not exceeding thirty thousand rupees;
2. (b) seven per centum' of its gross annual income in the case of a commit& having gross annual income exceeding thirty th:ous&d rupees but not exceeding fifty- thousad hpees;
3. (c) ten per centurn of its gross annual income in the case of a committee having gross annual income exceeding fifty thousand rupees but not exceeding one lakh and fifty thousand rupees; and (4 fifteen per centum of its gross mual income in the case of a committee having gross annual income exceeding one lakh and Bfly thousand rupees.

1. (2) (g ' [Tllis fund shall be administered by a committee consisting of the President ofthe Board and seven persons appointed by the Board in gencral meeting out of its 'members other than the members and offlice-bearers of the Executive Committee except the President or othenvise in the prescribed manner: Provided that if a member of the above Committee is elected a member or ofice-bearer ofthe Executive Committee of the Board except the President, he shall cease to be a member of the said Committee after such election.]
   • (ii) The Board in general meeting may erne rules for the administration of this fund.
   • (iii) The term of this committee shall expire on the expjl of the term of the Board appointing it.