Section 18: Specification of certain public funds allocated by law

(1) The public funds specified in Part I of the First Schedule to this Act shall be deemed to have been established with effect from the 1st day of April, 1958, and subject to the provisions of sections 20 and 21 of this Act and the express provisions of law regulating any such fund, the balances in such funds on that day, and the receipts and earnings and other items respectively accruing to such funds since that date, shall be deemed to be allocated by law for the purposes therein specified in respect of each such fund.
[First Schedule. Part I.]
(2) Whenever moneys are allocated by law to establish a fund or whenever it shall appear to the Minister that any public fund which is the property of the Federation or which comes into the possession of the Federation or of any public officer on behalf of the Federation, but which is not specified in the First Schedule to this Act, is by the provisions of law regulating such fund allocated for a specific purpose, and that for that reason such fund should not form part of the Consolidated Revenue Fund, the Minister shall by order amend Part II of the First Schedule to this Act by the addition of the title of such fund and a reference to the specific purpose to which it is allocated.
[First Schedule. Part II.]
(3) The Treasury funds specified in Part III of the First Schedule to this Act shall, with effect from the 1st day of April, 1958, be deemed to have been established and to be public funds of the Federation allocated by law for the specific purposes therein specified in respect of each such fund.
[First Schedule. Part III]
(4) Moneys coming into the possession of the Federation since the 1st day of April, 1958, which are held on behalf of other persons or bodies and which do not accrue to any other fund specified in the First Schedule to this Act shall be deemed to have accrued to and shall be credited to the Treasury Clearance Fund specified in Part III of the said Schedule.
(5) The Minister may by Order amend the First Schedule to this Act by the deletion therefrom of the particulars relating to any fund which may lawfully be absorbed into and form part of the Consolidated Revenue Fund or which has otherwise ceased to exist.