48. [ Application of moneys received by the manager. - All moneys received by the manager shall be applied to the purposes hereinafter mentioned, in accordance with such instructions as the Court may, from time to time, give in that behalf.] [Section 48 substituted by Bengal Act 6 of 1936.]
Unless that Board of Revenue shall specially otherwise direct, priority shall be given to the purposes included in class I over those included in class II, to the purposes included in class II over those included in class III and to the purposes included in class III over those included in class IV.Class I.(1)The payment of all charges necessary for the management and supervision of the property of the ward,(2)the payment of the charges referred to in section 22, and(3)the discharge of the instalments of Government revenue and of all cesses and other public demands from time to time due in respect of such property or any part of such property.Class II.(1)The payment of all rents, cesses and other demands due to any superior landlords in respect of any land held on behalf of the ward, and(2)the payment of interest at not more than four and a half per centum per annum on all debts incurred by the Court on behalf of the ward or on all debts incurred by the ward which the Court has admitted in the following order of priority :-(a)debts incurred by the Court in order to consolidate or pay off previous debts incurred at a higher rate of interest,(b)debts secured by immovable property of the ward,(c)debts which the Court has reduced under sub-section (2) of section 10D, and(d)other debts which Court has admitted.Class III.(1)The maintenance in an efficient condition of the estates, buildings and other immovable property belonging to the ward, and(2)the payment, on such scale as the Court may authorise, of such religious, charitable and other allowances not exceeding the amounts paid out of the proceeds of the property before it came under the charge of the Court, and such allowances and donations befitting the position of the ward's family and such expenses for the education of the members of the ward's family as the Court may authorise to be paid.Class IV.(1)The payment of the difference between interest at four and a half per centum per annum and interest at the rate contracted for on all debts of the ward admitted by the Court in the order specified in clauses (b), (c) and (d) of item (2) in class II,(2)liquidation of the principal amount of the debts in reasonable instalments, and(3)improvement of the land and property of the ward and his property generally.
