Utilisation of Funds

Utilisation of Reserve Fund 14. The Society may utilise its Funds in the manner indicated below : (a) Reserve Fund : The Reserve Fund of the Society may be utilised for the expenditure on repairs, maintenance and renewals of the Society's property. Utilisation of Reserve Fund (b) Repairs and Maintenance Fund: The Repairs and Maintenance Fund- may be utilised for meeting the expenditure on maintenance of the Society's property and repairs and renewals thereof. Utilisation of Sinking Fund (c) 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 reconstruction of its building/buildings or for carrying out such structural additions or alteration 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 maybe certified by the Architect and on approval of General Body. Utilisation of Education & Training Fund (d) The Education& Training Fund be utilized as provided under section 24(A) of the Act Utilisation of all Funds with approval of General Body Utilisation of all the Funds shall be with the specific prior approval of Society’s General Body.