(1) The Governing Board—
(a) is responsible for the governance, strategic planning and risk management of the Authority; and
(b) is responsible for pursuing the objective of the Authority; and
(c) may perform the duties and functions and exercise the powers of the Authority.
(2) All acts and things done in the name of, or on behalf of, the Authority by or with the authority of the Governing Board are taken to have been done by the Authority.