106(1)The endowments trust may maintain a reserve fund by setting aside out of the revenue of the endowments trust fund such sums as they think fit.
(2)The reserve fund shall be applied by the endowments trust in such way and manner as they deem expedient for the benefit of the endowments trust fund and (inter alia) towards meeting—
(a)the excess of expenditure over revenue of the endowments trust fund occurring at the close of any financial year as ascertained by the registered auditor of the endowments trust for the time being;
(b)the losses which may be sustained by the endowments trust fund through the depreciation of securities or insolvency of debtors; and
(c)extraordinary expenditure on lands and buildings forming part of the endowments trust fund.