54. (1) Subject to this Part, the Fund shall be administered by a Board consisting of the Permanent Secretary to the Treasury and two other persons appointed by the Minister responsible for finance in consultation with the Minister, of whom one shall be appointed as the Chairman.

(2) The Board may, with the approval of the Minister for the time being responsible for finance, invest or place on a deposit account any of the moneys of the Fund and any interest earned on moneys so invested or deposited shall be placed to the credit of the Fund.