All 174 bye-laws / Chapter VI – Funds, their Utilisation and Investment
14
Bye-law No. 14
Utilisation of funds
Utilisation of the Funds by the Society
Summary
Reserve and Repairs Funds are used for repairs, maintenance and renewals. The Sinking Fund is used, on a general body resolution, for reconstruction, structural changes or heavy repairs certified by the architect. All funds are used only with prior approval of the general body.
Common questions on this bye-law
How much sinking fund and repair fund should a society collect?