Section 34
Reserve fund
ActIn forceProvision 35 of 69
Section 34
(1)
Every board shall establish a reserve fund.
Act 474
(2)
The management of the reserve fund, the sums to be paid from time to time to the credit thereof and the application thereof shall be as the board may determine:
Provided that no part of the reserve fund shall be applied otherwise than for the purposes of the board.