Vidhi Codex

section 67

Endowment Fund

The Odisha Hindu Religious Endowments (Amendment) Act, 2018
Civil201889 sections
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Statutory text
  1. (1) There shall be established a fund to be called the “Orissa Hindu Religious Endowments Administration Fund” which shall vest in and be administered by the Board.
  2. (2) The following sums shall be credited to the said fund namely:—
    • (a) contributions levied under sub-section (3) ;
    • (b) fees levied under section 78 ;
    • (c) penalties realised under section 76 ;
    • (d) any grant or contribution by the State Government, any Local authority or any individual whether corporate or not ;
    • (e) any sum borrowed by the Board from the State Government.
    • (f) all amounts standing to the credit of the Endowment Fund constituted under the Orissa Hindu Religious Endowments Act, 1951 ;
    • (g) any other sum which may be credited by or under any of the other provisions of this Act.
  3. (3) Every religious institution having an annual income exceeding two thousand and five hundred rupees shall, from the income derived by it, pay to the Endowment Fund annually such contribution not exceeding seven per centum of its income as may be prescribed : Provided that where there has been a fall in the income of any religious institution in respect of any year due to cyclone, flood, drought or other natural calamities the Board may, with the approval of the State Government, remit the payment of contribution by such institution in respect of that year.
  4. (4) Every religious institution which is liable to pay contribution as aforesaid shall pay to the Endowment Fund annually for meeting the cost of auditing its accounts such further sum not exceeding one and half per centum of its income as the Administrator may determine.
  5. (5) The annual payments referred to in sub-sections (3) and (4) shall be made, notwithstanding anything to the contrary contained in any scheme settled or deemed to be settled under this Act for the religious institution concerned.
  6. (6) The Endowment Fund shall be utilised for meeting the expenses incidental to the purposes of this Act including the cost of auditing the accounts of religious institutions and the cost of any staff maintained for conducting the said audit.

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