The money of an institution may be applied only—
in payment or discharge of the expenses, charges, obligations, or liabilities incurred or undertaken by or on behalf of the institution; or
in payment of any remuneration or allowances payable to council members or council committees or to the chief executive or members of the staff of the institution; or
in making any other payments that are required or permitted by this Act or any other enactment to be made out of the money of the institution.
Compare: 1989 No 80 s 202