Section 32: Functions of the Board.

The Board shall-(a) carry out assessment of the amounts to be paid into the Fund by employers under this Act;
(b) undertake regular actuarial valuation of industries, sectors and workplaces and determine the rates of contributions by employers into the Fund by such industry, sector or workplace;
(c) receive and credit into its account, all moneys payable into the Fund under this Act;
(d) make all payments of the various compensation or benefits to any person entitled to such compensation or benefit and make all disbursements required to be made out of the Fund established under this Act;
(e) invest any money standing to the credit of the Fund only in accordance with the advice of the Investment committee established under section 62 of this Act;
(f) cooperate with the National council for occupational safety and Health for the prevention of occupational accidents and diseases and for the promotion of safety and health culture at the workplace; and
(g) carry out other activities as are necessary or expedient to ensure the effective performance of its functions under this Act.
(2) No investment shall be undertaken by the Board under this Act unless there is evidence to show that such investment is safe and not susceptible to market failures.