(a) All scholarships established in the Virgin Islands for the promotion of general education, including scholarships granted under the provisions of sections 171–175 of this title, from public or private grants, donation, loans or other funds from whatever source derived, shall be registered with the Virgin Islands Board of Education.
(b) The Board shall review all programs and applications for scholarships.
(c) The Board shall make rules and regulations, in conformity with the provisions of sections 171–176 of this title, for the award of scholarships and loans, the issuance and cancellation of certificates entitling persons to the benefits thereof, the use of scholarships by the persons entitled thereto, the rights and duties of recipients of scholarships and loans, the institutions attended with respect to such scholarships and loans, and providing generally for carrying into effect the provisions of sections 171–176 of this title. Such rules and regulations shall have the force and effect of law when approved and promulgated by the Governor.
(d) During the month of January of each calendar year the Virgin Islands Board of Education shall cause to be published daily for a period of one week in two newspapers of general circulation in the Territory a notice containing a list of all scholarships established in the Virgin Islands from any source and available to residents of the Territory. Said notice shall include for each scholarship; the name of the scholarship, the value of the award, where to apply, eligibility requirements, and any other pertinent information as determined by the Board.