47. Disposal of surplus.- After making provision for bad and doubtful debts, depreciation of assets and all other matters for which provision is necessary or expedient or which is usually provided for by bankers, and for the Funds referred to in sections 42, 43 and 45, the National Bank shall transfer— (i) for a period of fifteen years, following the accounting year during which the National Bank is established, the amount remaining (hereafter in this section referred to as surplus) to the Research and Development Fund under section 44; and (ii) after the expiry of the said period of fifteen years, the Board shall, after making provision for the Fund referred to in clause (i) disburse or spend the balance of the surplus in such manner as may be approved by the Board. | 