Regulation 12
Sinking fund for Majlis wakaf
of Administration of Muslim Law (Majlis Wakaf) Rules 2024
Subsidiary LegislationIn forceProvision 12 of 24
Regulation 12
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 Majlis wakaf may be used for any of the following purposes:
(a)
investing any portion of the net annual income of the Majlis wakaf that is transferred to the sinking fund under section 61(4) of the Act;
(b)
distributing monetary gifts to the beneficiaries of the Majlis wakaf.