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The Waqfs Ordinance, 1962 (East Pakistan Ordinance)

( Ordinance NO. I Of 1962 )

Chapter VIII

FINANCE

Application of Waqf Fund
74. (1) The Waqf Fund shall be applied to-
 
 
 
 
(a) payment of the cost of survey of waqf properties under section 6;
 
 
 
 
(b) repayment of any loan incurred under section 72 and payment of interest thereon;
 
 
 
 
(c) payment of cost of audit of the Waqf Fund;
 
 
 
 
(d) payment of the salaries and allowances of the Administrator, Deputy Administrator and Assistant Administrator;
 
 
 
 
(e) payment of the salaries and allowances of the officers and servants appointed by the Administrator under section 17;
 
 
 
 
(f ) payment of travelling allowances to the Administrator, Deputy Administrator, Assistant Administrator, other officers and servants of the office of the Administrator and to the members of the Committee;
 
 
 
 
(g) payment of the cost of the establishment employed by the Administrator;
 
 
 
 
(h) payment of all expenses incurred by the Administrator in the performance of the duties imposed and the exercise of the powers conferred by this Ordinance; and
 
 
 
 
(i) payment for the reconstruction and repairs of mosques.
 
 
 
 
(2) If any balance remains after meeting the expenditure referred to in sub section (1), the Administrator may use any portion of such balance of the fund for the improvement, preservation and protection of waqf property and also other religious and charitable works consistent with the purposes of the waqf.
 
 
 
 
(3) (a) All monies received by the Administrator under the provisions of section 85 shall be invested by the Administrator in the purchase of house properties, lands and other properties for the waqf; and
 
 
(b) If such purchase cannot be readily effected, such monies shall be invested in such Government or other approved securities as the Administrator thinks fit until such monies can be applied in the purchase of properties as aforesaid; and the Administrator shall direct the payment of the interest or other proceeds arising from such investment to persons interested in the waqf in fulfilment of the objects specified in the waqf deed.

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