Amendment status not verified — confirm the current text below against the official source.
1[Waqf] Fund.—(1) All moneys received or realised by the Board under this Act and all other moneys received as donations, benefactions or grants by the Board shall form a fund to be called the 1[Waqf] Fund. (2) All moneys received by the Board, as donations, benefactions and grants shall be deposited and accounted for under a separate sub-head. (3) Subject to any rules that may be made by the State Government in this behalf, the 1[Waqf] Fund shall be under the control of the Board, so, however, that the 1[Waqf] Fund under the control of common 1[Waqf] Board shall be subject to rules, if any, made in this behalf by the Central Government. (4) The 1[Waqf] Fund shall be applied to— (a) repayment of any loan incurred under section 75 and payment of interest thereon; (b) payment of the cost of audit of the 1[Waqf] Fund and the accounts of 2[auqaf]; (c) payment of the salary and allowances to the officers and staff of the Board; (d) payment of traveling allowances to the Chairperson, members, of the Board; (e) payment of all expenses incurred by the Board in the performance of the duties imposed, and the exercise of the powers conferred, by or under this Act; (f) payment of all expenses incurred by the Board for the discharge of any obligation imposed on it by or under any law for the time being in force.