(1) The income and property of the Academy shall be applied exclusively towards the promotion of the objects of the Academy under this Decree and subject to sub-paragraph (2) of this paragraph no part of this income and property shall be paid or transferred directly or indirectly, by way of dividend, bonus or profit to any Fellow or to any member of the Council.

(2) Nothing in the preceding sub-paragraph shall prevent:-

(a) the payment in good faith of reasonable and proper remuneration to any officer or employee of the Academy in return for services rendered by such officer or employee to the Academy;

(b) the payment of interest at a reasonable rate on money lent to the Academy by the Government or a banking institution, or reasonable and proper rent for premises let, to the Academy;

(c) the gratuitous distribution among, or sale at a discount to, Fellows of books or publications (whether or not published by the Academy) relating to the objects of the Academy;

(d) any Fellow from the benefit of any fellowship, grant, scholarship or bursary set up in furtherance of any of the objects of the Academy.