Rules of the Fund

(1) The Board may from time to time make rules of the Fund, not inconsistent with this Act, for all or any of the following purposes, (a) regulating the proceedings of the Board; (b) providing for the custody of the property of the Fund, and the custody and use of the common seal of the Fund; (c) regulating the terms and conditions of employment of persons appointed under section 7 of this Act; (d) the preparation of semi-annual or quarterly audits of the Fund; and (e) providing for such other matters as may be necessary or expedient for the better carrying out of the functions of the Fund. (2) Notice in writing of every proposed resolution to make rules under this section or for the amendment or revocation of any rule so made, (including a copy of the proposed rules, amendment, or revocation) shall be given to every Director not 15 less than 21 days before the meeting at which the proposal is to be moved, but an inadvertent failure to comply with this subsection shall not invalidate the making, amendment, or revocation of any rule at that meeting.