(c) subventions from Government; and
(d) such other monies as may, from time to
time, accrue to the Fund.
(3) The Fund shall be kept in a bank approved by
the Board of Trustees.
(4) Where a Fund is established, the Board of
Trustees and the Secretariat as defined in sections
118 to 120 shall supervise and provide policy
direction for the management of the Fund and the
Fund Manager.
Fund board
118. (1) Where a Fund is established, a Board of
Trustees referred to as “the Fund Board” shall be
established which shall manage and control the
Fund, and comprise
(a) the Permanent Secretary of the Ministry;
(b) a representative from the National Plan
ning Commission;
(c) the Director General of the Authority;
(d) one member of the Board of the Authority;
(e) a representative of consumers;
(f) a representative of service providers; and
(g) two other private sector representatives to
be appointed by the Minister, on the
recommendation of the Authority.
(2) A Chairperson shall be appointed by the
Minister from amongst the members, in
consultation with the Authority.
(3) The Fund Board shall have the ability to
establish standing or Ad Hoc Committees to assist
it in exercising its functions under this Act, but
decisions of the Fund Board Committees shall not,
be binding and valid until they are adopted and
agreed on by the Fund Board.
116