Upon the convening of the Board in accordance with section CP-1.2 above, the Board will calculate the total amount of compensation to be paid under the Scheme in the case of the relevant bank, as well as the amount of compensation payable under the Scheme to each eligible depositor of such relevant bank. In addition, one or more of the contributing banks will be appointed by the Board to act as the mandated bank(s) (the 'mandated bank(s)') for the purpose of the operation of the Scheme for the relevant bank.