(1) Subject to the provisions of this Act the Board shall manage the Fund.

(2) For the purposes of subsection (1), the Board shall-

(a) pursue and ensure the achievement of the object of the Fund;

(b) arrange for the collection of monies assigned to the Fund through procedures to be determined by the Minister and the Minister responsible for Finance;

(c) ensure accountability for the Fund by defining appropriate procedures for its management;

(d) receive and examine reports from the designated financial and other institutions in respect of facilities granted to them;

(e) in consultation with the Minister formulate policies to determine among others

(i) the level of interest rate chargeable on any credit facility granted under this Act;

(ii) the maximum credit facility that may be granted to an applicant; and

(f) perform such other functions as are incidental to the achievement of the object of the Fund.

(3) The Minister may give the Board such policy directives as he may determine.