The Fund is be governed by the Fund Board of Directors and the Fund Managing Director in accordance with the provisions of the founding documents, these TOR and Rules of Procedure and other applicable laws and regulations.
The Fund Board of Directors comprises a chairman and 8 additional members.
The chairman of the Board is appointed by the Minister responsible for Environmental Protection from among the members.
Additional members of the Board shall include representatives of the following institutions:
1. One representative from the Baa Atoll Council (the Baa Atoll Council shall decide which representative of the Council shall be appointed Board Member)
2. One representative from one of the Local Government Authority (the LGA shall decide which representative shall be appointed Board Member)
3. The Fund Managing Director
4. The Director General or his/her representative of the Baa Biosphere Reserve Office
5. One representative from the Environmental Protection Agency of the Republic of Maldives (the Minister of Environment shall decide which representative of the Environmental Protection Agency shall be appointed Board Member)
6. Two representatives of the Resorts operating in Baa Atoll (the majority of Resorts operating in Baa Atoll shall have the decision power to appoint the Board Members representing the resorts operating in Baa Atoll).
7. One representative of Liveaboard operators visiting Baa Atoll (a Liveaboard’s Association representing more than 50% of Liveaboard operators in the Maldives shall decide which representative of Liveaboard operators visiting Baa Atoll shall be appointed Board Member)
8. One representative of an NGO active in Baa Atoll in the area of biodiversity conservation (the Atoll council shall decide which NGO shall be represented on the Board)
The Chairman and other members of the Board is appointed for the period of three years.
The Board of Directors shall act in regularly convened sessions, at least twice every year. Sessions of the Board of Directors shall be convened by the Chairman at his/her discretion or at the request of the Fund’s Managing Director. Sessions of the Board of Directors can also be convened upon a written request of at least four of its members.
The Chairman shall convene sessions with a two-week advance notice and invitation to the members of the Board. Such notice shall specify the proposed agenda, time and venue of the session.
The discussions and decisions of a Board of Directors session shall be deemed valid if more than half of the members of the Board are present in the session.
Experts who are not Board members, but were invited by the Chairman of the Board to participate in a Board session, may participate in deliberations only, without the right to vote.