15. (1) There shall be a fund to be called the ¹[National Sports Council Fund] to which shall be credited all receipts of the Council including:-(a) grants from the Government;(b) membership fees;(c) donations in cash or kind;(d) sale proceeds from tickets, or any fee or other payment realised, for entry into any sports event arranged by the Council. (2) The ²[National Sports Council Fund] shall be applied to meet all such expenditure, including payment of salaries of the officers and employees of the Council, as is necessary to carry out the purposes of the Act, and shall be administered in such manner as may be prescribed by rules and, until such rules are made, in such manner as the Executive Committee, with the approval of the Chairman, direct.