section 116
Governmont otherwise direct, ! i : Js .
The Kerala State Housing Board Act 1971Chapter X GONSTITU I'TON OF TRIBUNAL AND ITS FUNCTIONS :
(1) The moneys credited to the revenue account shall be held by the Board in trust, and shall be applied to— (a) payment of all charges or payments towards interest on sinking fund due on account of any loan taken in pursuance of this Act, and all other charges incurred in connection with such loans; (b) payment of all sums due from the Board in respect of rates and taxes imposed by the local authority concerned, upon the land vested in the Board; (c) payment of costs, if any, of maintaining a separate establishment for the collection of rents and other proceeds of land vested in the Board; (d) payment of all sums towards the cost of the Tribunal under section 8; (e) payment of all sums which the Government may direct to be paid to any auditor under section 120; (f) payment of the cost of management including such proportion thereof as may be debited to the capital account under clause (h) of section 113; and (g) payment of all other sums due from the Board, other than those which are required by section 113 to be disbursed from the capital account. (2) The surplus, if any, remaining after making the payments referred to in sub-section (1) shall, subject to the maintenance of the closing balance as required by sub-section (2) of section 109, be invested in the manner laid down in section 101 towards the service of any loan after the expiry of sixty years from the commencement of this Act unless the Government otherwise direct.
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