(1)  The Board is responsible for –

(a) the exercise and performance of the powers and functions of the Authority under this Act, consistent with the Authority's objectives; and

(b) ensuring that the financial affairs of the Authority are managed and conducted in accordance with sound business practice; and

(c) the exercise and performance of such other powers and functions as may be conferred or imposed on the Authority or the Board under this or any other Act.

(2)  The Board has power to do all things necessary or convenient to be done in connection with the discharge of its responsibilities.

(3)  Where in this Act the exercise or performance of a power or function of the Authority in relation to any matter is expressed to be dependent on an opinion, belief or state of mind of the Authority, the Authority is taken to have that opinion, belief or state of mind in relation to that matter if the Board has that opinion, belief or state of mind in relation to that matter.