Article (5) Management of the Guarantee Fund

5.1 The Guarantee Fund shall be managed by a three-member special Committee, to be appointed by the Chairman of the BSE's Board of Directors. The Committee shall be responsible for setting the overall policies of the Guarantee Fund and exercising the general supervision of its performance.
5.2 The BSE shall be assigned the day-to-day management of the Guarantee Fund through its Operations Department.
5.3 The constitution of the Committee shall be as follows:
5.3.1 One member representing the BSE, who shall be the Chairman.
5.3.2 One member representing the brokerage companies, to be nominated by the BSE's members.
5.3.3 One member representing the Settlement Bank.
5.4 The term of the Committee membership shall be three years renewable for a similar term or terms.
5.5 Members of the Committee shall discharge their responsibilities in accordance with the provisions of this Resolution, without remuneration.