Report No. 60
Section 13A (New)
Where, by or under any Central Act or Regulation made on or after the day of ,1 any association or body of persons is constituted a body corporate, then, unless a different intention appears, that body corporate-
(a) shall have perpetual succession, and a common seal with power to alter or change the seal;
(b) may sue and be sued by its corporate name;
(c) shall have power
(i) to contract by its corporate name;
(ii) to acquire, hold or dispose of property, whether movable or immovable."
1. Date of commencement of amendment Act to be inserted.