Section 10: Fund of the Council

(1) The Council shall establish a fund which shall consist of :
(a) two percent of the Cost, Insurance and Freight (CIF), value of all imported automotive Fully Built Units (FBU) and auto component spare parts and Semi-Knocked Down (SKD), units;
(b) such sums as may be provided to it by the Government of the Federation for running and managing the affairs of the Council.
(c) such sums as may be collected or received by the Council for services rendered by the Council;
(d) contributions from the organized private sector;
(e) such sums as may, from time to time, be lent to the Council by any person or organization; and
(2) The other resources of the Council consisting of all other assets which may, from time to time, be vested in or accrue to the Council in the course of discharging its function under this Act.
(3) The Council may, from time to time, apply the proceeds of the Fund established under subsection (1) of this section to:
(a) the cost of administration of the Council and any research work carried on by or on behalf of the Council; and
(b) the provision of such training for employees of the Council as the Council may deem necessary.