These Regulations provide for the composition of the Board of Trustees of the Land Management Fund, the election of a Vice-Chairman (the Chairman is appointed by the President), tenure of appointment, meetings of the Board, accounts and audits and other financial matters of the Fund. The Board shall verify compensation schedules and claims submitted to the Commissioner for Lands or authorized Officer in the sense of section 2 of the Land Act, 1999 and cause payments to be made out of the Fund.