Amendment status not verified — confirm the current text below against the official source.
(1) The Board may, from time to -time set apart-as reserve fund or funds from out of its reve- nue .surplus -for the pyrpose of p oviding against any . temporary decrease in reven I e or ' increase in ex enditure from trans5ent causes or for purposes P o rkplacement or for meeting expenditure arising from loss or damage by fue, shipwreck or o t h e ~ acoidents or for any other emergency arising in the or&nary course of administration of the provisions of this Act. (2) The sums set apart as a reservc fund shall ,not ,exceed such amount and shall be invested in such manner as Government may from time to time direct. , . Chsrgoh . 45. No expenditure shall be charged by the wid 'Bo-ad- to'~pita1account withoutthepriorsanction Acc?lml. of .Government : , , . . . . . , . . . l~~rivided that whenever in the opinion of Govern- m n t it is ,expedient so to db with a view . to faci- , litate - the development of the port or the construe- .tion . . thereof, Governgent may, from time to time, by notification specify, the period d ~ j n g which go such smction shall be n~ssary.] glrorko