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(1) There is hereby established a fund to be known as the National Environment Trust Fund, (hereinafter referred to as the "Trust Fund").(2) The Trust Fund shall consist of—(a) such sums of money as may be received by the Trust Fund in the form of donations, endowments, grants and gifts from whatever source and specifically designated for the Trust Fund;(b) such sums of money or other assets as may be specifically designated to the Trust Fund by the Authority out of its general fund.(3) The Trust Fund shall be administered by a Board of five Trustees to be appointed by the Cabinet Secretary by a notice in the Gazette on such terms and conditions as the Cabinet Secretary may prescribe, upon the advice of the Salaries and Remuneration Commission. The trustees shall be persons holding at least post-graduate degree from a recognized university in the fields of environmental law, economics, environmental science or natural resource management and subject to chapter Six of the Constitution at the time of their appointment.(3A) The Board referred to in subsection (3) shall be known as the Board of Trustees of the Trust Fund and shall be a body corporate having perpetual succession and a common seal and may, in its corporate name, sue and be sued.(3B) The Trust Fund shall be administered in the manner provided for under a Trust Deed, and for the purposes of this Act, the Trust Deed shall be deemed to constitute the rules and regulations that govern the operations and functions of the Fund.(4) The object of the Trust Fund shall be to facilitate research intended to further the requirements of environmental management, capacity building, environmental awards, environmental publications, scholarships and grants.(5) The Board of Trustees may, on the recommendation of the Council, determine that certain donations to the Trust Fund shall be applied specifically and reserved only for prizes and awards for exemplary services to the environment.Such prizes and awards shall be applied by the recipient exclusively to the management of the environment.
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