Section 9
Vesting of Fund in the Board
of Tin Industry (Research and Development) Fund Act 1953
Subject to paragraph 11(a), the Fund shall vest in the Board, and the Board shall have the general management, administration and control of the Fund and for that purpose may—
(a)
invest the moneys of the Fund as it deems necessary;
(b)
appoint such officers and employ such persons as it may think necessary for the administration of the Fund; and
(c)
do all such things as are considered necessary or expedient for furthering the interests of the Fund or carrying out the object thereof.
(2)
No member of the Board shall be liable for any loss arising from or by reason of any investment made under paragraph (1)(a)
unless such loss has been occasioned by his wilful negligence or fraud.