Reserve Fund

(1) The Board may, from time to time set apart as reserve fund or funds from out of its revenue surplus for the purpose of providing against any temporary decrease in revenue or increase in expenditure from transient causes or for purposes of replacement or for meeting expenditure arising from loss or damage by fire, shipwreck or other accidents or for any other emergency arising in the ordinary course of administration of the provisions of this Act. (2) The sums set apart as a reserve fund shall not exceed such amount and shall be invested in such manner as Government may from time to time direct.