Section 41: Application of revenues

(1) The revenues of the Corporation shall be applied in defraying the following charges-
(a) the remuneration, fees and allowances of the members of the Corporation and any pension, superannuation allowance or gratuity payable to the chairman;
(b) the salaries, fees or other remuneration, and pension, superannuation allowances and gratuities, of the servants, agents and technical or other advisers of the Corporation;
(c) all expenses of working and management of the Corporation and its undertaking, including proper provisions for depreciation or renewal of assets;
(d) grants for purposes conducive to the welfare of persons employed by the Corporation;
(e) interest on any stock issued or interest and other charges on borrowed monies;
(f) sums required to be transferred to a sinking fund or otherwise set aside for the purpose of making provisions for the redemption of debenture stock or the repayment of other borrowed monies;
(g) income tax and other taxation on profits and rates levied under any written law;
(h) such allocation to the general reserve, established under section 44 of this Act and to contingencies or other reserves as may, in the opinion of the Corporation, be appropriate;
(i) such minor works of a capital nature as the Corporation may deem necessary from time to time;
(j) contributions to such charitable objects as the Corporation may determine;
(k) any other sums which the Corporation deems necessary to set aside from revenue to provide funds for the redemption of capital.
(2) Nothing in this section shall require the Corporation to make charges against revenue both for redemption of capital and for depreciation or renewal of capital assets, which have been acquired directly or indirectly from funds derived from the issue of such capital.