Clause 19
Reserve funds
of Mass Rapid Transit Corporation Bill
BillNot in forceProvision 25 of 50
Clause 19
(1)
Any excess of revenue over operating expenses in any financial year may be applied by the Corporation to the creation of a general reserve and such other reserves as the Corporation may determine.
(2)
The Corporation may expend the sums credited to reserves created under subsection (1) in any way it thinks fit and consistent with this Act.