(1) The Board must:
(a) prepare written rules dealing with the following:
(i) the eligibility criteria to be met in order for the Board or the Minister to approve the making of grants of financial assistance to organisations under this Division;
(ii) the making of applications by organisations for such an approval;
(iii) the assessment process for deciding which applications will receive such an approval;
(iv) any other matters that the Board considers appropriate; and
(b) give the rules to the Minister for approval under section 59.
(2) Without limiting subparagraph (1)(a)(i), the eligibility criteria may relate to the kinds of organisation that may receive financial assistance and the kinds of research projects in respect of which financial assistance may be approved.