(1) At the end of each financial year, after the Corporation has made provision for bad and doubtful debts, depreciation of assets, contributions to staff welfare and superannuation funds and for other contingencies, if any, there shall, on the recommendation of the Board and with the approval of the Commissioner, be appropriated for distribution as bonuses to the staff of the Corporation, a sum equal to fifty per centum of the remaining net profit of the Corporation.

(2) The Board, on the advice of the Commissioner responsible for Finance, shall determine in respect of each financial year how much of the remaining fifty per centum of the Corporation's net profit shall be paid into the Consolidated Fund.