Telecommunication Fund "Telecommunication Fund". (3) On the establishment of the Fund and notwithstanding the provisions of section 9 (6) of the Financial Procedure Act 1957, the balances in the Trust Accounts in respect of the telecommunication authority except the Development Fund Trust Account shall be paid to the Fund. ACT 20 - TELECOMMUNICATIONS ACT 1950 (REVISED 1970) [Repealed by Act 588] 9B. Establishment of Telecommunication Fund.