(1) The Fund shall, subject to paragraph (2), be managed and administered by the designated authority and where money standing to the credit of the Fund is placed on deposit with the Bank, the Bank shall determine the rate of interest payable from time to time on such money.

(2) The designated authority shall invest the Fund in a low-risk and sufficiently diversified manner.

(3) For the purposes of these Regulations, the designated authority shall have the power to -

(a) raise ex-ante contributions as referred to in Regulation 20 for the purpose of reaching the target level specified in Regulation 19,

(b) where the contributions specified in subparagraph (a) are insufficient, raise extraordinary ex-post contributions as referred to in Regulation 21, and

(c) contract borrowings and other forms of support, in accordance with Regulation 22.