Establishment of fund
15.-(1) The Board shall establish a fund to be called the Nicosia water supply fund into which all payments made by the Municipal Corporation of Nicosia and all charges levied and taken by the Board pursuant to Regulations made under this Law and all other moneys received by the Board shall be paid.
(2) Any moneys in the Nicosia water supply fund shall be applied by the Board in the following priority-
(a) for the repayment of any loan contracted by the Board under section 7;
(b)for the payment of compensation under section 6 or of any expenses incurred in connection with this Law;
(c) for the repayment of any moneys received from the Municipal Corporation of Nicosia under section 10.