Section 7: Corporation deemed to be a registered insurer

(1) Without prejudice to subsections (1) and (2) of section 1 of this Act, and subject as hereinafter in this Act provided, the Corporation shall be deemed to be a company registered under the Insurance Act.
(2) Accordingly, and in so far as the provisions of the Insurance Act are not inconsistent with those of this Act, the Corporation shall comply with the requirements of the Act aforesaid, as if the Corporation were a company so registered, and that Act shall, in relation to the Corporation, have effect and be construed accordingly.