CLASS ACTIONS ACT [CHAPTER 8:17] as at 26 January 2017 13 Settlement, withdrawal, etc. No class action instituted in terms of this Act shall be settled, withdrawn, compromised or discontinued without leave of the High Court and except upon such terms and conditions, including notice being given to members of the class of persons concerned, as the court may determine. PART III CLASS ACTIONS FUND 14 Establishment and object of Class Actions Fund (1) There is hereby established a fund, to be known as the Class Actions Fund, the management and control of which shall, subject to this Act, vest in a Board of Trustees on behalf of the Minister. (2) Subject to this Act, the object of the Fund shall be to provide financial assistance in the form of grants of funds towards expenses, or as security for costs, to persons who intend instituting class actions. 15 Composition of Fund The Fund shall consist of— (a) reimbursements or payments by successful plaintiffs under section twenty-one; and (b) any moneys that may be payable to the Fund from moneys appropriated for the purpose by Act of Parliament; and (c) any moneys that the Fund may obtain, with the approval of the Minister, by way of donations, loans or other financial assistance; and (d) any other moneys that may accrue to the Fund, whether in terms of this Act or otherwise. 16 Administration of Fund (1) Subject to this Act, the Fund shall be administered by a Board of Trustees on behalf of the Minister. (2) The Board of Trustees shall consist of— (a) a chairman, who shall be appointed by the Minister after consultation with the Judicial Service Commission and who shall be a person who is or is qualified to be a judge of the Supreme Court or the High Court; and (b) the Attorney-General; and (c) the Secretary of the Ministry for which the Minister is responsible; and (d) two registered legal practitioners appointed by the Minister. 17 Terms of office and conditions of service of Board members (1) A member of the Board shall hold office for such period, not exceeding three years, and on such terms and conditions, including terms and conditions for the payment of fees and allowances, as the Minister may fix. -7-