Section 4: Board of Trustees

4. Board of Trustees.—(1) As soon as may be after the commencement of this Act, the Federal Government shall, by notification in the official Gazette, constitute a Board of Trustees consisting of a Chairman and such number of other Trustees as the Federal Government may specify in the notification, for the control and management of abandoned property. (2) In discharging its functions, the Board shall be guided on questions of policy by the instructions, if any, given to it by the Federal Government which shall be the sole judge as to whether a question is a question of policy. (3) The meetings of the Board shall be held at such intervals and at such time and place as the Chairman of the Board may determine. (4) Subject to the rules, the Board may, with the previous approval of the Federal Government and by notification to the official Gazette, make regulations for regulating its procedure. (5) At any time when the office of Chairman is vacant or the Chairman is absent or is unable to perform the functions of his office due to any other cause, the Federal Gov ernment may appoint any member of the Board to act as Chairman until a Chairman is appointed or, as the case may be, the Chairman resumes his functions.

Effective date: 1975-01-01

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