77. Waqf Fund
77. [Waqf] Fund.--- (1) All moneys received or realised by the Board under this Act and all other moneys received as donations, benefactions or grants by the Board shall form a fund to be called the [Waqf] Fund.
All moneys received by the Board, as donations, benefactions and grants shall be deposited and accounted for under a separate sub-head.
Subject to any rules that may be made by the State Government in this behalf, the [Waqf] Fund shall be under the control of the Board, so, however, that the [Waqf] Fund under the control of common [Waqf] Board shall be subject to rules, if any, made in this behalf by the Central Government.
The [Waqf] Fund shall be applied to—
repayment of any loan incurred under section 75 and payment of interest thereon;
payment of the cost of audit of the [Waqf] Fund and the accounts of [auqaf];
payment of the salary and allowances to the officers and staff of the Board;
payment of traveling allowances to the Chairperson, members, of the Board;
payment of all expenses incurred by the Board in the performance of the duties imposed, and the exercise of the powers conferred, by or under this Act;
payment of all expenses incurred by the Board for the discharge of any obligation imposed on it by or under any law for the time being in force.
[(g) payment of maintenance to Muslim women as ordered by a court of competent jurisdiction under the provisions of the Muslim Women (Protection of Rights on Divorce) Act, 1986 (25 of 1986).]
If any balance remains after meeting the expenditure referred to in sub-section (4), the Board may use any portion of such balance for the preservation and protection of [waqf] properties or for such other purposes as it may deem fit.
Amendment notes (3)
- Subs w.e.f. 1-11-2013 . Subs. by Act 27 of 2013, s. 4, for "wakf" (w.e.f. 1-11-2013).
- Subs w.e.f. 1-11-2013 . Subs. by s. 4, ibid., for "wakfs" (w.e.f. 1-11-2013).
- Ins w.e.f. 1-11-2013 . Ins. by s. 42,ibid., (w.e.f. 1-11-2013).