Section 29, **The Sierra Leone Housing Corporation Act, 1982** [Margin: Short title.]

(1) The revenue of the Corporation for any financial year of the Corporation shall be applied in defraying the following— [Margin: Application of Revenue.] (a) the remuneration, fees and allowances of the members of the Corporation; (b) the salaries, fees, remuneration, pensions, superannuation allowances and gratuities (including any payment to the Government on account of pensions and gratuities under section 33) of the officers, agents and servants and technical and other advisers of the Corporation; (c) operating expenses and expenditure on, or provision for, the maintenance of any of the property of the Corporation and the discharge of the functions of the Corporation properly chargeable to revenue account; (d) interest on any stock issued and on any loan raised by the Corporation; (e) sums required to be transferred to a sinking fund or otherwise set aside for the purpose of making provision for the redemption of stock or the repayment of other borrowed moneys; (f) depreciation charges; (g) any other expenditure authorised by the Corporation and properly chargeable to revenue account. (2) The balance of the revenue of the Corporation shall be applied to the creation of general or specific reserve funds to be used for maintaining and improving the financial soundness of the Corporation and for financing further development.