Section 242: The Board of Trustees, composition and management.

1 The constitution of the host communities development trust shall contain provisions requiring the Board of Trustees to be set up by the settlor, who shall determine its membership and the criteria for their appointment, provided that the membership of the Board of Trustees of the host communities development trust shall be subject to the approval of the Commission or Authority, as the case may be.

2 The settlor shall, in consultation with the host communities determi'e the membership of the Board of Trustees to include persons of high integrity and professional standing, who shall come from the host communities and the Members of the Board of Trustees shall elect a Chairman from amongst themselves.

3 The settlor shall determine —
a the selection process, procedure for meeting, financial regulations and administrative procedures of the Board of Trustees;
b the remuneration, discipline, qualification, disqualification, suspension and removal of members of the Board of Trustees; and
c other matters other than the above relating to the operation and activities of the Board of Trustees

4 Each member of the Board of Trustees shall serve a term of four years in the first instance and may be reappointed for another term of four years and no more.

5 Board of Trustees shall have a secretary, who shall be appointed by the settlor to keep the books of the Board.