Section 37, Act, 2002 (Act No 12 0f 2002);

The revenue of the Company for any financial year shall beapplied in defraying the following charges– (a) operating expenses and expenditure on management of the Company, its waterworks and other property, including provision for depreciation of assets; (b) the salaries, remuneration, fees, allowances, pensions, gratuities and other benefits of the employees and contractors of the Company including the fees and allowances of members of the Board; (c) repayment of the principal sums borrowed and sums required to be transferred to a special reserve fund set aside for the purpose of making provision for the redemption of stock or other securities (d) interest on any loan raised by the Company; 22 23 Financial year of the Application of revenue. Annual Report. (e) rates, taxes and other levies, payable by the Company under any law; and (f) dividends to the Government as justified by the profits of the Company.