Singapore legislation
Section 61
Section 61
Income of wakaf or nazar
(1)
The income of a wakaf or nazar must be applied in accordance with the lawful provisions set out in the instrument or declaration creating, governing or affecting the wakaf or nazar.
(2)
Where there is no specific provision in such instrument or declaration for the expenditure of the wakaf or nazar, the income must be paid to and form part of the Fund.
(3)
The Majlis may establish and maintain for each wakaf or nazar am a separate sinking fund for that wakaf or nazar am, for one or more of the following purposes:
improving or maintaining any immovable property belonging to that wakaf or nazar am, including carrying out, in relation to that immovable property, any building operation, repair, demolition or installation work;
purchasing any property or asset for that wakaf or nazar am;
any other purposes related to that wakaf or nazar am that may be prescribed by rules made under subsection (6).
(4)
Despite subsections (1) and (2) and any provision to the contrary in any instrument or declaration creating, governing or affecting a wakaf or nazar am, the Majlis may direct that a portion of the net annual income of a wakaf or nazar am be transferred to the sinking fund established and maintained under subsection (3) for that wakaf or nazar am.
(5)
The percentage of the net annual income of a wakaf or nazar am that is to be transferred to the sinking fund under subsection (4) is to be determined by the Majlis after consulting the mutawalli of the wakaf or nazar am.
(6)
The Majlis may, with the approval of the Minister, make rules —
to prescribe the other purposes related to a wakaf or nazar am for which a sinking fund established or maintained for that wakaf or nazar am may be used; and
to provide generally for carrying out the purposes of this section.