15. Purposes of the Fund

The Fund shall be used for the following purposes:

to make disbursements for salaries, allowances, expenses and other administrative costs incurred for the purposes of this Act;

to provide awards, fellowships, scholarships and research grants;

to sponsor research projects undertaken by scientific organizations, institutions of higher learning and individuals;

to publish and purchase magazines, books and articles relating to science, engineering or technology;

organization of seminars, expositions and other similar activities relating to science, engineering or technology;

to pay for the rental, or purchase of a site for and the construction, of any building for the Academy;

to pay for the rental or purchase of equipment and materials for the purposes of the Academy;

to repay any moneys borrowed by the Council under section 17; and

to pay any other expenses properly incurred by the Council in the execution of its functions under this Act.