Section 48. Wakf Fund

48. Wakf Fund. — (1) All moneys received by the Board under section 46 and all other moneys realised by the Board under this Act shall form a fund to be called the Wakf Fund. (2) Subject to any rules that may be made by the State Government in this behalf, the Wakf Fund shall be under the control of theBoard. (3) The Wakf Fund shall be applied to— (a) repayment of any loan incurred under section 47 and payment of interest thereon; (b) payment of the cost of audit of the Wakf Fund and theaccounts of wakfs; (c) payment of the salary and allowances of the Secretary and staff of the Board; (d) payment of travelling allowances to the Chairman, members, Secretary and staff of the Board; (e) payment of all expenses incurred by the Board in the* performance of the duties imposed, and the exercise of the powers conferred, by or under this Act. (4) If any balance remains after meeting the expenditure referred' to in sub-section (3), the Board may use any portion of such balance for the preservation and protection of wakf properties or for such other purposes as it may deem fit.