What is Parole Board?

Legal Definition
A parole board is a panel of people who decide whether an offender should be released from prison on parole after serving at least a minimum portion of their sentence as prescribed by the sentencing judge. Parole boards are used in many jurisdictions, including the United Kingdom, the United States, and New Zealand. A related concept is the board of pardons and paroles, which may deal with pardons and commutations as well as paroles.

A parole board consists of people qualified to make judgements about the suitability of a prisoner for return to free society. Members may be judges, psychiatrists, or criminologists, although some jurisdictions do not have written qualifications for parole board members and will allow community members to serve in that capacity. A universal requirement is that the candidate for membership has to be of good moral fiber.
-- Wikipedia
Legal Definition
the name given to the commission that considers a prisoner's application for release.