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(1) The National Council shall establish a board to be known as the Finance and Economics Board.

(2) The Board shall consist of five persons appointed by the National Council and may comprise members of the National Council or others or both.

(3) The Board shall be responsible generally for the proper administration of the finances of the National Council and shall, in particular-

(a) study the current and long-term financial requirements of the National Council and advise on how grants and moneys provided by the Government to the National Council should be used in the best interests of sports in Ghana;

(b) work out a financial policy for the disbursement of finance to all the national associations of sports or groups of sports;

(c) advise on the best way of organising the importation and sale of sports equipment in Ghana;

(d) keep under constant review the finances of the National Council and keep the National Council informed as to the state of its finances;

(e) to perform such functions as the National Council may assign to it.