(1) The Minister may give such directions and take such steps as may be necessary for the purpose of establishing a Special Fund.
(2) Any fund established prior to the commencement of this Act is considered to be a Special Fund and to have been established for the purposes of subsection (1) and the balance standing to the credit of that fund at the close of account on the day prior to the commencement of this Act is considered to have been established for the purposes specified with respect to each such Special Fund.
(3) The Minister shall cause any Special Fund established under subsection (1) to be notified in the Gazette.