Section 31: Powers of the Board.

The Board shall-(a) be in charge of overall policies for the administration of the Fund established under section 56 of this Act;
(b) approve investment of any money in the Fund on the advice of the Investment committee established under section 62 of this Act;
(c) fix the terms and conditions of service including remuneration of the employees of the Fund;
(d) formulate policies and strategies for assessment of compensation, rehabilitation and welfare of employees who sustain injuries or contact occupational diseases at the workplace or in the course of employment; and
(e) do such other things which, in the opinion of the Board, are necessary to ensure the efficient performance of the Board under this Act.