Section 15Part 2 — Establishment, functions and duties of the Water Authority
Reserve funds
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Authority shall maintain a reserve fund and may, with the approval of the Financial Secretary, invest its reserve fund at interest.
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: Provided that —
no part of the reserve fund shall be applied otherwise than for the purposes of the Authority; and
the power of the Cabinet to issue policy directives to the Authority shall extend to the issue to it of directives 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 directive may be of a specific character.