Clause 58

A Fund to be known as the General Endowment Fund is hereby established. Except as otherwise provided under the provisions of this Act such Fund shall consist of all money and property, movable or immovable, which by the Muslim law or under the provisions of this Act or rules made hereunder accrues or is contributed by any person to the Fund.

All money and property in the Fund shall be vested in the Majlis which shall administer all such money and property in accordance with the rules made under this Act:Provided that any investments of assets and funds vested in the Majlis may be sold, realised and disposed of, and the Majlis shall have power to invest from time to time in any investments authorized by any written law for the time being in force for the investment of trust funds and to transfer the same to other such investments.

Subject to the provisions of this Act the Majlis, with the approval of the Minister, may make rules for the collection, administration and distribution of all property of the Fund.