A Corporation by the name of the Bangladesh Fisheries Development Corporation is established for purposes of development of the fishing industry of Bangladesh. "Fishing industry "includes also fish processing and marketing.The Corporation shall have the following functions: (a) establish units for fishing, and for the preservation, processing, distribution and marketing of fish and fish products; (b) to advance loans to the fishing industry and cooperatives of fishermen; (c) encourage establishment of such cooperatives; (d) undertake monitoring of fish resources; (e) set up organizations for the exportation of fish and fish products, etc. The management of the Corporation shall be vested in the Board of Directors to be appointed by the Government. The Government may make rules for carrying out the purposes of this Act.