Section 17. Administration of the Fund.— The CSF operation shall be administered by the CSF Cooperatives which is governed by the Board of Directors. The Board of Directors shall designate bank/s, authorized by the BSP to engage in trust and other fiduciary business under Republic Act No. 8791, otherwise known as “The General Banking Law of 2000”, to act as trustee bank/s and manage the CSF subject to additional eligibility requirements as may be provided for in the implementing rules and regulations.