Section 12: Fund of the Board

(1) The Board shall establish and maintain a fund from which shall be defrayed all expenditure incurred by the Board.
(2) There shall be paid into the fund established pursuant to subsection (1) of this section-
(a) all fees and other money payable to the Board in pursuance of this Act;
(b) such money as may be payable to the Board in the course of the discharge of its functions;
(c) such money as may, from time to time, be lent or granted to the Board by the Government of the Federation or a State or local government.
(3) There shall be paid out of the fund of the Board-
(a) the cost of administration of the Board;
(b) reimbursement of members of the Board or of any committee set up by the Board for such expenses as may be expressly authorised by the Board in accordance with such rates as may be approved, from time to time, by the Minister;
(c) the payment of salaries, fees or other remuneration or allowances, pensions, superannuation allowances and gratuities payable to the employees of the Board and fees to agents;
(d) maintenance of any property acquired or vested in the Board; and
(e) such other expenses incurred by the Board in the discharge of its functions under this Act.