The Anzac Memorial is overseen by a Board of Trustees responsible for the management, maintenance and preservation of the Memorial as NSW's principal war memorial. Its significance is reflected in the unique composition of its board with the positions of Premier and Leader of the Opposition, Lord Mayor of Sydney, State President of the RSL (NSW Branch), the Government Architect, State Librarian and Secretary of the Department of Education, Australian Defence Force, veterans and community representatives all legislated Trustees with the Anzac Memorial Act 1923.