261. Powers, duties and functions of the Board.- (1) The Board shall be responsible for,- (a) all matters connected with the administration of the Fund; (b) laying down policies for the deposits of the amount of the Fund; (c) submission of annual budget to Government for sanction; (d) submission of annual report to Government on the activities of the Board; (e) proper maintenance of accounts; (f) annual audit of accounts of the Board, in accordance with provisions of the Act; (g) collection of contribution to the Fund and other charges; (h) launching of prosecutions for and on behalf of the Board; (i) speedy settlement of claims and sanction of advances and other benefits; (j) proper and timely recovery of any amount due to the Board. (2) The Board shall furnish information to Government on such matters as the Government may refer to it, from time to time. | 
