16. Expenditure to be charged on the Fund

The Fund shall be expended for the purpose of—

paying any expenditure lawfully incurred by the Board, including legal fees and other fees and costs, and the remuneration of officers and servants appointed and employed by the Board, including superannuation allowances, pensions and gratuities;

paying any other expenses, costs or expenditure properly incurred or accepted by the Board in the performance of its functions or the exercise of its powers under section 4;

purchasing or hiring equipment, machinery, stores and any other materials, acquiring land and erecting buildings, and carrying out any other works and undertakings in the performance of its functions or the exercise of its powers under section 4;

repaying any monies borrowed under this Act and the interest due thereon; and

generally, paying any expenses for carrying into effect the provisions of this Act.