Section 6: General Reserve Fund.

(1) The Bank shall establish a general reserve fund to which shall be allocated from the net profits of the Bank at the end of each financial year and before any dividend is declared-
(a) 25% of the net profits of the Bank where the amount of the general reserve fund is less than the paid-up share capital of the Bank; or
(b) 12½% of the net profits of the Bank where the amount of the general reserve fund is equal to or in excess of the paid-up share capital of the Bank.
(2) The net profits of the Bank for each financial year shall be determined by the Bank after meeting all current expenditure for that year and after making all such provisions as it thinks fit for bad and doubtful debts, depreciation of assets, contributions to staff and superannuation fund and all other contingencies.