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(1) The Agency shall apply its funds

(a) to support youth development through skills training, entrepreneurship and internship;

(b) for the payment of allowances of the beneficiaries on the internship modules;

(c) for the training of a beneficiary in a trade or vocation;

(d) for the payment of Service Providers who are contracted by the Agency to implement specific modules developed by the Agency; and

(e) for the administrative expenses of the Agency and over-sight supervision by the Ministry which shall in any case not exceed five percent of the funds of the Agency.

(2) The Board shall ensure that the funds of the Agency are employed solely for the purpose for which they are approved and in accordance with the regulations of the Agency.