The Three Funds definition
The Three Funds refers to the reserve funds, development funds, employee bonus and welfare funds of the joint ventures stipulated in the joint venture regulations.
The Three Funds means collectively the Reserve Fund, the Venture Expansion Fund, and the Staff and Workers Bonus and Welfare Fund to be established by the Joint Venture Company pursuant to the Joint Venture Law.
Examples of The Three Funds in a sentence
The Three Funds shall be appropriated in the required proportion from the annual profits of the Company after income tax has been paid in the tax period according to the law.