(1) In relation to any relevant period, the resources of the Board shall consist of-
(a) subject to any deductions that may be made under section 15(5), all amounts of levy (or such amounts equivalent thereto) remitted to and received by the Board during that relevant period; and
(b) all other moneys, including grants, fees, and interest paid to and received by the Board during that relevant period for or in connection with the carrying out of its functions.
(2) All resources received by the Board under subsection (1) shall be deposited with any bank within the meaning of the Banking Ordinance (Cap 155) nominated by the Board as the Financial Secretary may approve.
(3) The Board may deduct from the resources of the Board referred to in subsection (1)-
(a) any expenses incurred by the Board during the relevant period;
(b) any reimbursement of levy or amount equivalent thereto made under section 20(3) or (4), as the case may be, during that relevant period in accordance with a request by an insurer;
(c) any sums payable by the Board by virtue of or under this Ordinance in respect of any obligation which arose during that relevant period; and
(d) any other sums paid by the Board during that relevant period into a contingency fund established under section 8,
and the balance of those resources (referred to in this Part and Schedule 2 as "net resources of the Board" (管理局資源淨額)) shall be distributed in accordance with section 7(1).