(1) The Board shall exercise and perform, in the name of the Authority, the functions conferred on the Authority under this Act.
(2) Without prejudice to subsection (1), the Board shall —
(a) set the mission, vision, values, strategic priorities, objectives, performance targets and organizational policies of the Authority;
(b) review the performance of the Chief Executive Officer, Chief Financial Officer and Chief Corporate Officer;
€ confirm the appointment and compensation of the Chief Executive Officer;
(d) ensure that proper financial records are kept and that a corporate plan and budget estimates are prepared;
€ regularly monitor the Authority's performance against strategies and plans;
(f) prepare and submit for the approval of the Minister a Destination Marketing Plan for the conduct of destination marketing; (Substituted by Act 12 of 2020)
(g) take action to leverage opportunities or address weaknesses within the external operating environment;
(h) ensure there are adequate processes in place to comply with statutory obligations, legal and accounting requirements and government policy and practices as directed by the Minister;
(i) ensure good corporate governance;
(j) ensure that the risks to which the Authority is exposed are clearly identified and that suitable processes are in place to manage or mitigate the risks;
(k) report, on a quarterly and annual basis, the Authority's performance to the Minister and members of the tourism industry and broader community; and
(l) act ethically, upholding and modelling the correct values, adhering to codes of practice and administer the codes of practice.
(3) The Tourism Destination Marketing Plan for the conduct of destination marketing under subsection (2)(f) is subject to annual review and updating by the Board and the reviews and updates must be submitted to the Minister. (Amended by Act 12 of 2020)