(a) There is created and established in the Treasury of the Virgin Islands a special revolving fund to be designated and known as the Criminal Victims Compensation Fund. The Commissioner of Finance shall maintain and provide for the administration of said Fund as a separate and distinct fund in the Treasury, and no monies shall be available for expenditure from said Fund except as provided by law.
(b) There is authorized to be appropriated to the Criminal Victims Compensation Fund such sums each year as are determined necessary by the Legislature, upon recommendation by the Virgin Islands Criminal Victims Compensation Commission for carrying out the provisions of chapter 7, Title 34 of this code. The Fund shall consist of all monies appropriated thereto pursuant to authorization under this section and of all monies paid to the Fund pursuant to the provisions of subchapter IV of said chapter 7.
(c) Monies shall be disbursed from the Criminal Victims Compensation Fund by the Commissioner of Finance at the discretion and direction of the Executive Secretary of the Virgin Islands Criminal Victims Compensation Commission for the purpose of awards and payments under the provisions of chapter 7, Title 34 of this code.