(1)

There shall be constituted a Fund to be called the International Financial Services Centres Authority Fund and there shall be credited thereto -

(a) all grants, fees and charges received by the Authority under this Act; and

(b) all sums received by the Authority from the sources as may be decided upon by the Central Government.

(2)

The Fund shall be applied for meeting -

(a) the salaries, allowances and other remuneration of Members, officers and other employees of the Authority; and

(b) other expenses incurred by the Authority in connection with the discharge of its functions and for the purposes of this Act.