Section 4: Duties of the board

(1) The Board shall be responsible for the general administration of the Commission and, in particular, shall :
(a) formulate general policies for the regulation and development of the capital market and the achievement and exercise of the functions of the Commission;
(b) approve the audited and management accounts of the Commission;
(c) appoint Auditors for the Commission;
(d) consider and approve the annual budget of the Commission as may be presented to it by the management;
(e) establish zonal offices of the Commission; and
(f) carry out such other activities as are necessary and expedient for the purposes of achieving the objectives of the Commission.
(2) The Board shall, on the recommendation of the Director-General, approve the duties of the full time Commissioners.
(3) The Board shall also approve the reassignment of the full time Commissioners by the Director-General.