Section 11: Fund of the Council.

(1) The Council shall establish and maintain a fund into which shall be paid and credited-
(a) such money as may be appropriated or granted to the Council by the Government of the Federation or of a State;
(b) such money as may be granted to the Council by the Industrial Training Fund or any other body;
(c) all subscription fees or charges for services rendered by the Council or any of its agents;
(d) all other assets that may accrue to the Council; and
(e) all other sums accruing to the Council by way of gift or testamentary disposition.
(2) The Council shall apply the proceeds of the Fund established under subsection (1)-
(a) to the cost of administration of the Council;
(b) for reimbursing members of the Council and any committee of the Council for such expenses expressly authorised by the Council; and
(c) to the payment of salaries or other remuneration or allowances, pension and other retirement benefits payable to members or employees of the Council.