(1)  There is established by this Act a body to be known as the Nominal Insurer.

(2)  The Nominal Insurer –

(a) is a body corporate with perpetual succession;

(b) shall have a common seal;

(c) may take proceedings, and be proceeded against, in its corporate name; and

(d) may do and be subject to all other things that corporations may by law do and be subject to and that are necessary for, or incidental to, the purpose for which it was constituted.

(3)  All courts, judges and persons acting judicially shall take judicial notice of the common seal of the Nominal Insurer affixed to a document and shall presume that it was duly affixed.