Chapter VI Chapter VI

Finance

Finance.--

1. (1) The Board shall be incharge of all income of the Wakaf property within its jurisdiction. All sums received by any Tehsil Committee shall be paid to the Board and shall form a fund to be called "the Wakaf Fund".
2. (2) The Wakaf Fund shall be applied to--
   • (a) improvement, repair and maintenance of Wakaf property including purchase of immovable property or construction of new buildings, shops and other structures whether for commercial or other purposes and expenditure both of recurring and non-recurring character necessary to be incurred in connection with such Wakaf properties;
   • (b) repayment of any loan incurred by the Board or Tehsil Committee;
   • (c) payment of the cost of audit of the Wakaf Fund and of the Wakaf;
   • (d) payment of the salaries and the allowances of the Secretary and the staff of the Board and the Tehsil Committee;
   • (e) payment of the travelling allowances to the Chairman, Members, Secretary and the staff of the Board and the staff of the Committee;
   • (f) payment of all expenses incurred by the Board or Tehsil Committee in the performance of the duties imposed and in exercise of the powers conferred by or under this Act;
   • (g) propagation of knowledge of Islamic Law or for rendering pecuniary assistance to indigent Muslims under the Wakaf Fund;
   • (h) payment of other charges as may be sanctioned by the Board.

Budget of the Board

Accounts.--The Board and the Tehsil Committee shall keep accounts in such form and in such manner as may be prescribed.