There is hereby established a body corporate under the name of the Accident Compensation Corporation having perpetual succession and a common seal, and capable of holding real and personal property, and of suing and being sued, and of doing and suffering all such other acts and things as bodies corporate may lawfully do and suffer.

The Accident Compensation Corporation is hereby declared to be the same body as the body corporate established under the name of the Accident Compensation Commission under section 6 of this Act, as in force before the commencement of this section.

Every reference in any enactment or document whatsoever to the Accident Compensation Commission shall, un-soever to the Accident Compensation Commission shall, unless the context otherwise requires, hereafter be read as a

The Corporation shall consist of the following members—

who shall act as a Board of directors and be responsible for policy.

One of the appointed members shall be so appointed as Chairman of the Corporation, and one shall be so appointed as Deputy Chairman of the Corporation.

The members of the Accident Compensation Commission in office immediately before the commencement of this section shall cease to hold office on the commencement of this section.”

Every appointed member of the Corporation shall hold office for the term for which he was appointed, being a term not exceeding 3 years, and may be reappointed.

Notwithstanding anything in subsection (1) of this section, every appointed member of the Corporation, unless he sooner vacates his office under section 8 of this Act, shall continue in office until his successor comes into office, notwithstanding that the term for which he was appointed may have expired.”

Meetings of the Corporation shall be held at such times and places as the Corporation or the Chairman or the Deputy Chairman from time to time appoints.

The Chairman shall preside at each meeting of the Corporation. In the event of the absence of the Chairman from any meeting of the Corporation the Deputy Chairman shall preside at that meeting and, if he is also absent, the meeting shall be presided over by a member appointed by the members present.

At all meetings of the Corporation the quorum necessary for the transaction of business shall be 4 members.

At any meeting of the Corporation the person presiding at the meeting shall, in the event of an equality of votes, have a casting vote.

Subject to the provisions of this Act and any regulations made thereunder, the Corporation may regulate its procedure in such manner as it thinks fit.”

The Corporation shall appoint a Deputy Managing Director of the Corporation.

On the occurrence from any cause of a vacancy in the office of the Managing Director (whether by reason of death, resignation, or otherwise), and so long as that vacancy continues, the Deputy Managing Director shall have and may exercise all the powers, duties, and functions of the Managing Director.

The Deputy Managing Director shall act as the deputy of the Managing Director in case of illness, absence, or other temporary incapacity of the Managing Director, and also (notwithstanding that no such temporary incapacity exists) in all matters in respect of which he is authorised by the Managing Director so to act.

Every such authorisation shall be in writing under the hand of the Managing Director, and may be either general or in respect of any special matters.

The fact that the Deputy Managing Director exercises any power, duty, or function of the Managing Director, or does any act for the Managing Director as aforesaid, shall be sufficient evidence of his authority to do so, and no person shall be concerned to inquire whether any occasion has arisen requiring or authorising him to do so, or be affected by notice that no such occasion has arisen.”