Section 9: Fund of the Institute.

(1) The Council shall establish and maintain a fund (in this Act referred to as "the Fund") for the Institute.
(2) There shall be paid into the Fund –
(a) all fees and other money payable to the Institute or Council under this Act;
(b) such money as may be payable to the Institute or Council in the course of the performance of its functions under this Act; and
(c) annual membership subscriptions as may be determined by the Council.
(3) There shall be paid out of the Fund of the Institute –
(a) all expenditure incurred by the Council in the performance of its functions under this Act;
(b) the remuneration and allowances of the Registrar and other staff of the Institute; and
(c) such reasonable travelling and subsistence allowances of members of the Council in respect of the time spent on the duties of the Council, as the Council may determine.
(4) The Council may invest the Fund in any security issued by the Government of the Federation or in any other security in Nigeria.