11. The Board shall have the power, subject to the directions of the President"
(a) to appoint such officers and servants of the Fund as may be necessary for the administration and management of the affairs of the Fund; |
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(b) to determine the remuneration payable to the officers and servants so appointed; and |
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(c) to pay such remuneration and other expenses incurred in the administration of the affairs of the Fund out of the income of the Fund, |
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