7. All money from time to time forming part of the fund and all investments of the fund shall be applicable—N.I.
(a)for payment of any costs, charges and expenses of establishing, maintaining, administering and applying the fund;
(b)for payment of any premiums on insurances effected by the Society under paragraph 5;
(c)for repayment of any money borrowed by the Society for the purposes of the fund and for payment of interest on any money so borrowed;
(d)for payment of any grants which the Society may make under Part IV;
(e)for payment of costs, charges and expenses incurred by the Society in exercise of any power conferred by Article 36, 37 or 39 or Schedule 1;
(f)for payment of any other sums properly payable out of the fund by virtue of Part IV or this Schedule.