Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall set apart and apply annually out of the Mining Settlement Fund- (a) firstly, such sum as may be required for the payment of any amounts falling due on any loan legally contracted by it; (b) secondly, such sum as may be required to meet the expenditure on account of its own establishment under section 14 and the contribution made towards the Local Government Service under section 15; and The Mining Settlement Fund. Application of the mining settlement fund. [Act No. XLIV of 1956] 17 (c) thirdly, the cost of the construction and maintenance of buildings used for the offices of the Board. (2) Subject to the payment of the expenditure charged under sub-section (1), the Mining Settlement Fund shall be applicable only to the payment of expenses incurred by the Board for the purposes of this Act and the rules and bye- laws made thereunder and also to the following purposes, namely- (a) the payment to members of the Board of daily allowances for attending meetings of the Board and of expenses incurred in travelling for the purposes of the business of the Board at such rates as may be prescribed; (b) the payment of compensation to any person sustaining any damage by reason of the exercise of any power vested in the Board, its members, officers or servants, under this Act; and (c)with the previous sanction of the Government payment of any other expenditure for the purpose of the Mining Settlement.