Section 14: The Board

14. The Board.___(1) The Supervisory Council, acting on the advice of the nomination committee, shall appoint the directors of the Board. (2) The general superintendence, direction, management of the affairs and business of the Fund and overall policy making in respect of its operations shall vest in the Board which may exercise all such powers and do all such acts, deeds and things which may be exercised or done to achieve the objectives of the Fund under this Act. (3) For avoidance of doubt, no legal proceedings in any court of Pakistan shall be instituted, filed, continued or concluded against the Fund except by, against or on behalf of the CEO as the administrator of the Fund.

Effective date: 2023-08-04

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