Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) It is the function of the Board to manage the affairs of EFIC.
(2) The Board's role under subsection (1) includes the determination of the policy to be followed in the conduct of the affairs of EFIC.
(3) A decision of the Board is not invalid merely because the Board has limited the exercise of its discretion in the particular case and made the decision in accordance with a general policy determined by the Board.
(4) Anything done by the Board in the name of, or on behalf of, EFIC for the purposes of this Act or any other Act that confers powers or functions on EFIC is taken to have been done by EFIC.