The Council may, after paying its expenses, allocate any money received by it, whether by way of fees or otherwise, to purposes connected with education and research or to other purposes applicable to the dispensing of hearing aids, in such manner as it may think fit.

The Council shall keep accounts of all sums received or paid by it and the accounts for each financial year of the Council shall be audited by auditors to be appointed by it and shall be published as soon as may be after they have been audited.

A person shall not be appointed under subsection (2) unless he is eligible for appointment as a company auditor under section 25 of the Companies Act 1989.