The Crown Property Bureau was established under the Royal Assets Structuring Act of 1936 and became a juristic person in 1948. According to the act, a Board of Crown Property was set up, to be chaired "ex officio" by the finance minister, and served by at least four royally-appointed directors. The king names one of the board members as the director-general of the CPB. The Board of Crown Property is responsible for the overall supervision of the activities of the Crown Property Bureau. Duties and responsibilities of the director-general are prescribed by the Board of Crown Property.