(1) The Board shall for the purpose of managing the Fund -

(a) formulate policies to generate money for the Fund;

(b) determine the allocation to be made towards the objects of the Fund;

(2) The Board may invest such part of the Fund as it considers appropriate in government securities or in such manner as may be approved by the Minister or in consultation with the Minister for Finance.

(3) All payments issued from the Fund shall be signed by the Chairman of the Board, the Executive Director and one other member of the Board.