Section 5

to determine its own procedure for the summoning and conduct of meetings of the Board, to regulate the submission of statement of accounts and the report of its activities, and to prescribe any other matters that may be necessary for the administration of the Fund;

to appoint any person or officer to be Secretary to the

Board and may from time to time appoint such other officers, clerks and servants as may be necessary for conducting the business of the Board;

to apply for and acquire timber concessions and work them directly or through contracting out and to carry on other business which may seem to the Board capable of being conveniently carried on or in connection with the above or calculated directly or indirectly to enhance the value or render profitable any of the Board’s property or rights;

to invest in such securities or to make such investments in land development scheme or in any business or venture as the

Board deems to be beneficial to the Fund;

to establish from time to time a corporation by such name as the Board may think fit to carry out and have the charge, conduct and management of any project, scheme or enterprise which has been planned or undertaken by the Board in the execution of its duty or discharge of its functions in pursuit of the objects of the Fund;

to appoint investment managers, advisers or consultants to advise or assist the Board in the investment and management of moneys in the Fund; and

to do all things expedient or reasonably necessary or incidental for the carrying out of the purposes prescribed under section 6.

[Am. Cap. A67.]

Objects and beneficiaries of the Fund