Section 13: Ship acquisition and ship building.

(1) There is hereby established a fund to be known as the Ship Acquisition and Building Fund (referred to as "the Fund").
(2) The Fund shall be administered by a committee, composed of members of the Authority.
(3) The fund shall be applied to assist Nigerians in the development and expansion of a national fleet.
(4) The Minister shall lay down the general procedure and guidelines for the administration and the carrying into effect of the purposes of the Fund.