Section 20: Functions of a Board of director

20. Functions of a Board of director.___(1)The directors of the Board shall perform the following functions, namely:— (a) act within powers conferred upon the director in accordance with this Act; (b) promote the success of the Fund; (c) exercise independent judgment; (d) exercise reasonable care, skill and diligence; (e) avoid conflicts of interest; (f) not accept benefits from third parties; (g) declare an interest in a proposed transaction or arrangement; and (h) declare the interest in existing transaction or arrangement. (2) The directors of the Board may rely on the advice, opinions, reports or statements prepared by external professionals or experts in the course of discharging their functions and shall include advice, opinions, reports or statements provided by the Advisory Committee.

Effective date: 2023-08-04

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