(1) The governing body for the Fund is a Board consisting of

(a) a chairperson,

(b) the Chief Executive Officer of the Fund, and

(c) seven other persons at least three of whom are women.

(2) The members of the Board shall be appointed by the President in accordance with article 70 of the Constitution.

(3) In making the appointments, the President shall consider the integrity, knowledge, expertise and experience of the members in matters relevant to the functions of the Board.