Section 13
22 Fund Of The Corporation
(1) The Corporation shall have a fund of its own. The following amounts shall be credited to that fund:
(a) Grants received from the Government of Nepal,
(b) Amounts received from any regular source,
(c) Land revenue or other incomes received from the Guthi lands,
(d) Amounts received while transferring Guthi controlled lands into registered lands (Raitan Numbari lands),
(e) Any other amounts received by the Corporation.
(2) All cash balances shall be deposited in the Nepal Rastra Bank or any bank designated by the Committee, in the name of the Corporation.
(3) All expenses to be made by the Corporation shall be chargeable on the fund of the Corporation.
20 Amended by the First Amendment.
21 Inserted by the First Amendment.
22 Inserted by the First Amendment.
(4) Notwithstanding anything contained in Sub-section (3), any amounts received pursuant to Clause (d) of Sub-section (3) and proceeds of the sale of any assets in the name of the Corporation shall be held as a revolving fund (akshaya kosh) of the Corporation, and such amounts shall not be used for any yearly expenditure, except depositing the same in a fixed account with any bank or making longterm
investment such as building a house or shop. At lest Twenty Five percent of the incomes made from the investment of the revolving fund shall be compulsorily deposited to that fund and the rest amount may be spent in the business of the Corporation.
(a) Grants received from the Government of Nepal,
(b) Amounts received from any regular source,
(c) Land revenue or other incomes received from the Guthi lands,
(d) Amounts received while transferring Guthi controlled lands into registered lands (Raitan Numbari lands),
(e) Any other amounts received by the Corporation.
(2) All cash balances shall be deposited in the Nepal Rastra Bank or any bank designated by the Committee, in the name of the Corporation.
(3) All expenses to be made by the Corporation shall be chargeable on the fund of the Corporation.
20 Amended by the First Amendment.
21 Inserted by the First Amendment.
22 Inserted by the First Amendment.
(4) Notwithstanding anything contained in Sub-section (3), any amounts received pursuant to Clause (d) of Sub-section (3) and proceeds of the sale of any assets in the name of the Corporation shall be held as a revolving fund (akshaya kosh) of the Corporation, and such amounts shall not be used for any yearly expenditure, except depositing the same in a fixed account with any bank or making longterm
investment such as building a house or shop. At lest Twenty Five percent of the incomes made from the investment of the revolving fund shall be compulsorily deposited to that fund and the rest amount may be spent in the business of the Corporation.