Section 82: Duties and Responsibilities of Board of Trustees.

(1) The Board of Trustees is responsible for the supervision, administration and management of the Resolution Fund and shall discharge the following duties-
(a) collection of the contributions and levies levied under this Act as and when due;
(b) disbursement of money standing to the credit of the Resolution Fund;
(c) formulating investment policies for the Resolution Fund and causing money standing to the credit of the Resolution Fund to be invested in accordance with the provisions of this Act; and
(d) performing other functions that are consistent with the purpose of the Resolution Fund as specified in this Act.
(2) The Board of Trustees may-
(a) delegate any part of its responsibilities under this Act as it may deem fit; and
(b) appoint independent service providers, professional advisers and consultants for the performance of any of its functions and for running the Secretariat.
(3) In the discharge of their responsibilities and duties, members of the Board of Trustees are deemed to stand in a fiduciary relationship with the Bank, the Corporation, banks, specialised banks and other financial institutions and shall act with due care and skill, in utmost good faith.