(1) The Board shall, in respect of a public procurement of a major value —
(a) establish appropriate internal procedures for the operations of the Board and ensure compliance with them;
(b) vet tendering documents and notices submitted to it by a procuring entity;
(c) receive and publicly open tenders;
(d) select persons from a list of qualified evaluators maintained by it to act as members of a Tender Evaluation Committee and oversee the examination and evaluation of tenders; and
(e) review the recommendations of a Tender Evaluation Committee and —
(i) approve the award of the public procurement contract, or
(ii) require the Tender Evaluation Committee to make a fresh or further evaluation on specified grounds.
(2) The Board shall strive to achieve the highest standards of transparency and equity in the execution of its functions, taking into account —
(a) the evaluation criteria and methodology disclosed in the tendering documents;
(b) the qualification criteria and methodology disclosed in the tendering documents;
(c) equality of opportunity to all tenderers;
(d) fairness of treatment to all parties;
(e) the need to obtain the best value for money in terms of price, quality and delivery, having regard to set specifications; and
(f) transparency of process and decisions.
(3) The Board shall exercise such functions, as may be assigned to it under any other enactment.