(1) The Foundation may, out of its funds, establish a fund to be known as the reserve fund.
(2) Subject to subsection (3) and section 23(2) the Foundation shall—
(a) be responsible for the management of the fund;
(b) determine what amounts shall be credited to the fund; and
(c) determine the purpose for which the fund may be applied.
(3) The fund may only be applied for the purposes of the Foundation.