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

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

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

(c) determine annual targets of the Fund.

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

(3) Payments issued from the Fund shall be signed by any two of the following:

(a) the chairperson of the Board;

(b) the Executive Secretary; and

(c) one other member of the Board.