494Powers of the Authority

494 Powers of the Authority (1) Subject to this Act, the Authority has the power to do all things necessary or convenient to be done for or in connection with the performance of its functions and to enable it to achieve its objectives. (2) Without limiting or derogating from the generality of subsection (1), the Authority may undertake and carry on in Victoria or elsewhere the business of insurance for the purpose of providing accident insurance. (3) For the purposes of subsection (2), ***accident insurance*** means insurance under and for the purposes of this Act or the **Accident Compensation Act 1985** and is not limited by reference to the practices, usages, form and procedure for the time being followed by other persons engaged in the general business of insurance. (4) Without limiting or derogating from the generality of the powers of the Authority under this Act, the powers of the Authority include— (a) the power to enter into agreements or arrangements with— (i) employers liable to pay compensation under the **Workers Compensation Act 1958**; and (ii) employers liable to pay damages in respect of injury or disease; and (iii) insurers liable to indemnify employers in whole or in part in respect of that liability— upon such terms as the Authority deems appropriate, and without limiting or derogating from the generality of the foregoing, agreements or arrangements under which the Authority undertakes to assume or discharge that liability or any part of that liability; and S. 494(4)(b) amended by No. 44/2014 s. 24(22). (b) the power to do all things necessary or convenient to be done for or in connection with the performance of its functions under Division 5 of Part 7 of this Act or Division 6A or 6B of Part IV of the **Accident Compensation Act 1985**; and (c) the power to enter into agreements or contracts with a corresponding Authority for or with respect to— (i) the Authority performing the functions or exercising the powers of the corresponding Authority as its agent; and (ii) the Authority performing any works or providing services for the corresponding Authority; and (iii) the Authority providing the corresponding Authority with the use of its facilities or the services of its staff; and (iv) the corresponding Authority performing the functions or exercising the powers of the Authority as its agent; and (v) the corresponding Authority performing any works or providing services for the Authority; and (vi) the corresponding Authority providing the Authority with the use of its facilities or the services of its staff; and (d) in addition to, and not limited by, any other power under this section, the power to provide related and ancillary services.