Application of Corporation Fund
54. The moneys credited from time to time to the Corporation Fund shall be applied in the following order of preference:-
firstly, in the payment of salaries and allowances to the Chief Executive Officer and other officers and employees of the Corporation;
secondly, in the repayment of loans;
thirdly, in meeting the expenditure charged on the Corporation Fund under this Ordinance;
fourthly, in the fulfilment of any obligation and in the discharge of any duty imposed on the Corporation under this Ordinance or under any other law for the time being in force;
fifthly, in meeting the expenditure declared by the Corporation, with the previous sanction of the Government, to be an appropriate charge on the Corporation Fund; and
Sixthly, in meeting the expenditure declared by the Government to be an appropriate charge on the Corporation Fund.