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(1)The Fund shall consist of—
(a)initial, further and special contributions levied by the Board under sections 24 to 26 below;
(b)moneys borrowed by the Board under section 26(3) below;
(c)moneys credited to the Fund in accordance with subsection (1) or subsection (5) of section 32 below; and
(d)income credited to the Fund in accordance with subsection (3) below.
(2)The moneys constituting the Fund shall be placed by the Board in an account with the Bank.
(3)So far as possible, the Bank shall invest moneys placed with it under subsection (2) above in Treasury bills payable not more than ninety-one days from the date of issue; and any income from moneys so invested shall be credited to the Fund.
(4)The administrative expenses of the Board shall be defrayed out of the Fund.
(5)There shall be chargeable to the Fund—
(a)payments to meet administrative expenses of the Board in accordance with subsection (4) above;
(b)repayments of special contributions under section 26(2) below;
(c)moneys required for the repayment of the Board's borrowings under section 26(3) below; and
(d)payments under section 28 below.
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