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Exported Live Stock (Insurance) Fund.
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13.—(1) The Board shall establish, maintain and manage in accordance with this Act a fund (in this Act referred to as the Fund) to be called and known as the Exported Live Stock (Insurance) Fund.
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(2) The following provisions shall apply and have effect in relation to the Fund—
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(a) there shall be paid into the Fund all moneys received by the Board which are required by this Act to be paid into the Fund;
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(b) there shall be paid out of the Fund all moneys which are required by this Act to be paid out of the Fund, and all other expenses incurred by the Board under this Act, and no other moneys;
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(c) the Board may, for the purpose of meeting charges required by this Act to be paid out of the Fund, borrow on the security of the Fund;
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(d) so much of the Fund as in the opinion of the Board is for the time being not immediately required for the payment of sums payable out of the Fund under this Act may be invested by the Board in securities in which trustees are by the law, for the time being in force, authorised to invest trust funds;
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(e) the Board may from time to time at their discretion vary or transpose any moneys (being part of the Fund) invested under this sub-section into other investments authorised under this section, and may at any time sell and convert into money all or any investments made by them under this sub-section;
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(f) all dividends and interest received by the Board on investments (being part of the Fund) made by them under this sub-section or in respect of the sale of any such investments shall be paid into the Fund.
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