(1) In addition to the functions, as laid down in section 22 of the Act, the Board shall be responsible for,—
(a) all matters connected with the administration of the Fund;
(b) laying down policies for the deposits and investment of the amount of the Fund;
(c) submission of annual budget to the State Government for sanction;
Sections 20 (1) and 62 Sections 20 (1) and 62 Sections 22 and 62 127
(d) submission of annual report to the State 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 in consultation with the Accountant General, Punjab;
(g) collection of contribution to the Fund, grants, loans and other resources;
(h) launching of prosecutions for and on behalf of the Board;
(i) speedy settlement of claims and sanction of advances and other benefits; and
(j) proper and timely recovery of any amount due to the Board.
(2) The Board shall furnish information to the State Government on such matters as the State Government may refer to it, from time to time.