(1) The State Government may, by notification in the official Gazette, constitute with effect from such date as may be specified therein a Board to be called the Karnataka Toddy Workers' Welfare Fund Board for the purpose of the administration of the Fund and to supervise or carry out the activities financed from and out of the Fund.
(2) The Board shall be a body corporate by the name aforesaid, having perpetual succession and a common seal and shall, by the said name, sue and be sued.
(3) The Board shall consist of such number of directors as may be appointed by notification in the official Gazette by the State Government, out of whom at least one shall be a person belonging to scheduled caste and one shall be from among toddy tappers and they shall be, chosen in such manner as may be provided for in the Scheme :
Provided that the Board shall include an equal number of directors representing the State Government, the employers and the employees.
(4) One of the directors of the Board shall be appointed by the State Government as Chairman.
(5) Subject to the pleasure of the State Government the term of office of the Chairman and other members of the Board shall be three years.
(6) The Board shall administer the Fund vested in it in such manner as may be specified in the Scheme.