The functions, duties and powers of the Board of Directors shall be as follows-
(a) Administering the Fund,
(b) To make the necessary arrangement and implementation of the reinsurance of the risk group,
(c) overview of risk group reinsurance arrangements,
(d) from the point of view of the interest of the fund, to coordinate with the insurers to provide additional protection in the future of the risk group, to arrange for new reinsurance and to renew it,
(e) Collecting required reinsurance details and insurance fees of the risk group from the member insurers, making payment of reinsurance fees,
(f) to appoint surveyors recognized by the Insurance Committee for the settlement of claims falling under the Fund or to determine the basis for surveyors to be appointed by member insurers for the same purpose,
(g) To prepare and implement the guidelines related to the claim settlement process under this regulation,
(h) Prepare and implement guidelines for insurance, reinsurance management related to "risk groups" for subscribing insurers and coordinate with insurers and reinsurers and revise such guidelines from time to time,
(i) Providing necessary reports and general advice and suggestions to the Government of Nepal through the insurance committee regarding the operation of the fund (j) Reinsurance commission received from reinsurers in relation to the risk group, after taking the approval of the insurance committee, deduct the amount determined by the board of directors and pay the rest of the related insurers,
(k) finalizing the claim process under this regulation, d

(l) settling claims from risk groups, delegating authority to insurers to settle claims,
(D) To prepare and implement the financial and administrative guidelines necessary for the operation of the fund (d) Formulating the necessary basis regarding the membership of the fund and making necessary decisions regarding the membership of insurers who did not initially subscribe to the fund,
(n) Cancellation of membership of insurers subscribed under rule 5,
(p) To issue a certificate of membership to a subscribing insurer,
(th) To carry out other functions necessary for the achievement of the purpose of this regulation.