S.L. 409.18 ст. 5Functions of the Board.

The Board shall have the following functions and any ancillary functions thereto:

(a) to set-up the Fund;

(b) to administer and manage the day-to-day affairs of the Fund;

(c) to decide and examine the current travel package market and decide who shall be deemed as a contributor to the Fund;

(d) to monitor and control that contributors are contributing to the Fund;

(e) to report regularly to the Authority on any matter affecting and, or relating to the Fund and the Fund’s contributors;

(f) to refund and, or repatriate consumers having valid claims in accordance with these regulations;

(g) to undertake any appropriate action in connection with the performance of its functions through the licensing and enforcement directorates of the Authority;

(h) to assist and cooperate with other member states in accordance with the Directive;

(i) to annually publish the contributions made by all contributors and such other information as provided for under article 31(3) of the Act and any other applicable law;

(j) to recommend to the Authority as to whether a licence shall be issued or not for new applications of travel agents, after it undertakes to carry out an assessment in accordance with its approved terms of reference;

(k) to recommend to the Authority the renewal or otherwise, or the suspension or revocation of travel agents’ licences and other action, as it may deem appropriate, in accordance with its approved terms of reference;

(l) to submit an annual report to the Authority.