Fund of the Association

(1) The Association shall have its own Fund. (2) There shall be paid into the Fund of the Association, (a) all such sums as may be collected by the Association by way of cess; (b) any other sums due to the Association from any other source. (3) There shall be paid out of the Fund in respect of each financial year, (a) all such sums as are required to defray the expenses incurred by the Commission in the exercise, discharge and performance of its powers, functions and duties under this Act or any regulations made thereunder; and (b) all such sums as are required to defray the expenses of the Association and which have been provided for in the budget submitted to and approved by the Commission, Provided that the annual budget of the Commission and the Association shall have been approved by the Minister. 17 (4) Any sum remaining after defraying the expenses referred to in subsection (3) of this section, shall be paid into a fund to be known as the “Grain Producers Development Fund”. (5) The administration of the Development Fund referred to in subsection (4) of this section, shall be vested in a Board of Trustees consisting of three trustees, one appointed by the Minister, one by the Commission, and one by the Association. Regulations may be made by the Minister for the administration of the Grain Producers Development Fund.