Reserve Fund

(1) The Authority shall establish and maintain a reserve fund to meet contingencies and for such other purposes as it may think fit. (2) The management of the reserve fund, the sums to be carried from time to time to the credit thereof, the charges to be made against it and any other application of the monies comprised therein shall be as the Authority may determine, Provided that, 16 (a) no part of the reserve fund shall be applied otherwise than for the purposes of the Authority; and (b) the power of the Minister responsible for Finance to give directions to the Authority shall extend to the giving to them of directions as to any matter relating to the establishment or management of the reserve fund, the carrying of funds to the credit thereof, or the application thereof, notwithstanding that the direction may be of a specific character.