3. Establishment and incorporation of Construction Industry Development Board

There is hereby established a body to be known as the Construction Industry Development Board which shall be a body corporate with perpetual succession and a common seal and shall, by that name, be capable of —

suing and being sued;

acquiring, owning, holding and developing or disposing of property, both movable and immovable; and

doing and suffering all such other acts or things as a body corporate may lawfully do and suffer.