Amendment status not verified — confirm the current text below against the official source.
The Board may, tror;I tima to tims, sst <ipa~t such sums o~lt ot ~ t s surp!us income as it thinks fit as a reserve fund or funds,for the purpose of oxpend!ng existingfa~ilities or creating new facilities at the p ~ t s or for the purpose of providing against any temporary decrease ,)I revenue or incroasc of expenditure fro111 transient causes or for p.irpssj< o i replacamznt or for mesting expenditure ,arising from loss or damage from fire, cydone, ship wrecks or other aczident or for any other emergency arising in the ordi~~ary c~nduct of its works under this Act : Provided that the sums set apzrt annually 111 respaot ot, and tho aggrcsaru at any tlme of any such reserve fund or funds shall not exl;~;d such amounl as InitY. irom time to time, bs fixed in tiy.it bs!valf by the Govc;nm=nt. Prior sanction ef Go~arppre-t to chow expenditure to capital. power to ' reserve Board