7. (1) A person who, immediately before the commencement date, held the office of Chief Executive of the Authority shall be deemed on and from the commencement date to be acting as Chief Executive of the TAB on the same terms and conditions as the terms and conditions on which that person held the office of Chief Executive of the Authority.
(2) The person deemed to be acting in the office of Chief Executive of the TAB in accordance with subsection (1) may continue so to act until—
(a) a person is appointed to that office; or
(b) another person is appointed to act in that office;
whichever occurs first.