1A. Purposes for which sinking fund may be used

For the purposes of section 61(3)(c) of the Act, a sinking fund established and maintained under section 61(3) of the Act for a wakaf or nazar am may be used for the following purposes:

investing any portion of the net annual income of that wakaf or nazar am that is transferred to the sinking fund under section 61(4) of the Act;

distributing monetary gifts to the beneficiaries of that wakaf or nazar am.