Special Funds

(1) The proceeds of any loan raised under an Act which specifies the purposes to which the loan is appropriated and applied, shall be paid into a Special Fund to be established by the Accountant General in respect of that loan. (2) The funds specified in the First Schedule are hereby established as Special funds. The Minister may by Order published in the Gazette from time to time establish additional Special Funds which shall thereby be deemed to be included in the First Schedule; or may in like manner remove a fund from the list specified in the First Schedule, which fund shall thereby cease to be a Special Fund. (3) Special Funds shall not form part of the Consolidated Revenue Fund and shall be kept in separate accounts with the Accountant General. 17 (4) A Special Fund shall be administered in the manner provided by the law, or trust instrument, creating it or which relates to it, Provided that in the absence of any law or trust instrument, or if the better carrying out of such law or trust instrument so requires, the Minister shall by Regulations provide for the administration of the Special Fund, or for the better administration of the Special Fund, as the case maybe. (5) Subject to the provisions of this section and of any other law, Special Funds may be invested in like manner to that permitted by section 3 in respect of the Consolidated (6) Any interest or dividend received in respect of any Special Fund shall be credited to the account of that Special Fund and shall become in all respects part of that Special Fund.