Section 20: Expenditure, borrowing power, account and audit.

1 There shall be paid out of the Fund of the Institute-
a all expenditures incurred by the Council in the performance of its functions under this Act;
b the remuneration and allowances of the Registrar and other employees of the Institute; and
c such reasonable traveling and subsistence allowances of the members of the Council in respect of the time spent on the duties of the Institute.

2 The Council may, borrow money for the purpose of the Institute and any interest payable on moneys so borrowed shall be paid out of the Fund.

3 The Institute shall keep accounts in respect of each year and proper records in relation to those accounts to be audited by an auditor appointed from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation.

4 The auditor appointed for the purpose of this section, shall not be a member of the Council.