An employer is liable to pay compensation in accordance with the provisions of this Act if a workman under its employment is accidentally injured in the course of employment. “Workman” is a defined term under this Act. This Act imposes other duties on the employer including compulsory insurance. Certain categories of employers are such as companies fully owned by the government, international shipping lines, international oil companies, banks and finance companies and employers of all persons employed otherwise than by way of manual labour are exempted from the requirement to take up compulsory insurance.