16. — (1) The Board may apply its funds for all or any of the following purposes:

(a) the payment of expenses incurred by it in the exercise and performance of its powers and duties under this Act,

(b) the payment of any moneys in accordance with the terms of any totalisator licence held by it,

(c) the making of payments, grants or loans for all or any one or more of the following purposes:

(i) the increase of stake money and prizes at greyhound race meetings at greyhound race tracks and authorised coursing meetings,

(ii) the reduction of entry fees and similar charges in respect of greyhounds competing in events forming items at such meetings,

(iii) the carriage of greyhounds competing in such events,

(iv) the improvement of greyhound race tracks, authorised coursing grounds and the amenities thereof,

(v) the preservation of hares, and the care and management of hares in connection with authorised coursing meetings,

(vi) assisting the Club in the performance of its functions or contributing to the cost of schemes operated by the Club for the improvement and development of greyhound breeding and coursing,

(vii) any purpose conducive to the development of the export trade in greyhounds,

F11[(viii) any other purpose conducive to the improvement and development of the greyhound industry,

(ix) the enhancement of the health and welfare of greyhounds.]

(2) The Board may attach to any grant or loan made or proposed to be made by it under this section such conditions as the Board thinks proper.