68.—(1) A vehicle insurer, a vehicle guarantor or an exempted person may at any time issue one or more certificates (each of which is in this Act referred to as a certificate of exemption) in the prescribed form in respect of any mechanically propelled vehicle owned by him certifying that the vehicle is owned by him and stating the prescribed particulars in respect of his liability for injury caused by the negligent use of the vehicle.

(2) A certificate of exemption issued by a vehicle insurer shall, for the purposes of sections 25, 26 and 27 of the Insurance Act, 1936, be regarded as if it were a policy issued by the insurer in the course of carrying on mechanically propelled vehicle insurance business within the meaning of section 3 of that Act.