The Competition Act, 2002 provides for the constitution of a fund called the "Competition Fund." Elaborate the given statement.

The Competition Act, 2002 provides for the constitution of a fund called the "Competition Fund" for meeting the establishment and other expenses of the Competition Commission in connection with the discharge of its functions and for the purposes of this Act. The following shall be credited to the "Competition Fund": - all government grants received by the commission; the fees received under the Act; the interest on the amounts accrued on the monies referred under clauses (a) and (b). The Fund shall be administered by a Committee of such Members of the Commission, as may be determined by the Chairperson and the Committee so appointed, shall spend monies out of the Fund only for the objects for which the Fund has been constituted.