Appointment of clerical and other staff by Board

The Board shall have power to appoint such officers and clerical and executive staff as it thinks fit to carry out the purposes of the Fund and to supervise and control the activities of any other body financed from the Fund: Provided that the expenditure on account of the officers and servants appointed by the Board and any other administrative expenses to be incurred by the Board shall not exceed fifteen percent of the annual income of the Fund.