Bye-law No. 14
The Society may utilise its Funds in the manner indicated below :
14. a. USING RESERVE FUND
The Reserve Fund of the Society may be utilized for the expenditure on repairs, maintenance, and renewals of the Society’s property.
14. b. USING REPAIRS & MAINTENANCE FUND
The Repairs and Maintenance Fund may be utilized for meeting the expenditure on maintenance of the Society’s property and repairs and renewals thereof.
14. c. USING SINKING FUND
On the resolution passed at the meeting of the General Body of the Society, the Sinking Fund may be used by the Society for the reconstruction of its building/buildings or for carrying out such structural additions or alterations to the building/buildings, as in the opinion of the Society’s Architect would be necessary to strengthen it/them or for carrying out such heavy repairs as may be certified by the Architect and on approval of General Body.
14. d. USING EDUCATION & TRAINING FUND
The Education & Training Fund be utilized as provided under section 24(A) of the Act
Utilization of all the Funds shall be with the specific prior approval of Society’s General Body
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