As enactedVersion · As enacted
7. Fund of the Corpora-tion
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(1)
The Corporation shall have its own fund and all moneys heretofore or hereaftér to be received by way of gift, bequest, donation, subscription, contribution, fees or grants, for or and on account of the Corporation shall be deposited to the credit of the Corporation in one or more banks as the Council shall determine.
(2)
There shall be paid out of the fund, all sums of money required to defray any expenditure incurred by the Corporation in the exercise, and discharge of its powers, and functions under this Act.