(1)Every Board shall pay from its Waqf Fund annually to the Council such contribution as is equivalent to one per cent. of the aggregate of the net annual income of the auqaf in respect of which contribution is payable under sub-section (1) of section 72:Provided that where the Board, in the case of any particular waqf has remitted under sub-section (2) of section 72 the whole of the contribution payable to it under sub-section (1) of that section, then for calculating the contribution payable to the Council under this section the net annual income of the waqf in respect of which such remission has been granted shall not be taken into account.
