(1) There is established under this Act a Board for the Fund which shall consist of-

(a) a chairman;

(b) one representative of

(i) the Ghana Export Promotion Council nominated by the Council;

(ii) the Private Enterprise Foundation;

(iii) the Ministry of Finance of a rank not below a Director;

(iv) the Ministry of Trade and Industry of a rank not below a Director;

(v) the Ministry of Food and Agriculture of a rank not below a Director;

(c) the Governor of the Bank of Ghana or his representative;

(d) the Controller and Accountant-General or his representative;

(e) the Chief Executive of the Fund; and

(f) four other persons representing the private sector.

(2) The members of the Board shall be appointed by the President acting in consultation with the Council of State.

(3) The President shall in appointing the chairman and the other members of the Board have regard to the integrity, knowledge, expertise and experience of the persons and in particular their knowledge in matters relevant to the functions of the Board.