(1) The Agency shall establish a fund to be known as the Dormant Accounts Fund.

(2) The Agency shall manage and control the Fund in accordance with this Act and the Unclaimed Life Assurance Policies Act 2003 and shall have all the powers (including the power to charge fees, payable from the Fund, in relation to the management and control of the Fund) that are necessary for or incidental to the performance of its functions under this Act and the Unclaimed Life Assurance Policies Act 2003.

(3) The Fund shall consist of a reserve account and an investment and disbursements account.

(4) The Agency shall pay into the reserve account, from time to time, the amount that the Agency determines, with the approval of the Minister given with the consent of the Minister for Finance, for the purposes of -

(a) defraying -

(i) the fees, costs and expenses incurred by the Agency in performing its functions under this Act and the Unclaimed Life Assurance Policies Act 2003, and