Section 23Part 4 — Financial Provisions
Reserve fund
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The Authority shall maintain a reserve fund.
The management of the reserve fund, the sums to be carried, from time to time, on the credit thereof, and the application thereof, shall be as the Authority may determine but —
no part of the reserve fund shall be applied otherwise than for the purposes of the Authority; and
the power of the Cabinet 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.
Defined Terms
reserve fund