3. The University.-
(1) There shall be established a University by the name of Indian Maritime University.
(2) The headquarters of the University shall be at Chennai with its campuses at Mumbai, Kolkata, Chennai, Vishakhapatnam and such other places within its jurisdiction as it may deem fit.
(3) The first Chancellor, the first Vice-Chancellor, the first members of the Court, the Executive Council, the Academic Council, the Planning Board and all persons who may hereafter become such officers or members, so long as they continue to hold such office or membership, shall constitute the University.
(4) The University shall have perpetual succession and a common seal and shall sue and be sued by the said name.
(5) The University shall be both, a teaching and an affiliating University.