As enactedVersion · As enacted
10. Fund of the Corporation
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(1)
The Corporation shall have its own fund and all moneys received by way of donations, gifts, testamentary dispositions, transfers, contributions or fees shall be deposited in the name of the Corporation in one or more Banks as the
Board of Management shall determine.
(2)
The Corporation may establish a depreciation fund or a sinking fund for the purpose of rehabilitation, development or improvement of the property of the Corporation.
(3)
All expenses incured by the’Corporation in the exercise and discharge of the powers and functions of the Corporation shall be paid out of the fund.