(1) A Special Fund is a fund established under section 8 of the Financial Administration Act, 2003, (Act 654) from moneys received by or on behalf of the Government and paid out to the department responsible for the special purpose.

(2) A Special Fund shall be established by an enactment or other legal instrument approved by the Government, which shall specify the purposes of the Fund, the administering authority, amounts receivable and payable, and any special rules necessary for the transaction of business.