s 3 The Board and its objectives
(1) There is established a body corporate by the name of “Malaysian Rubber Board” with perpetual succession and a common seal, which may sue and be sued in its corporate name and, subject to and for the purposes of this Act, may enter into contracts and may acquire, purchase, take, hold and enjoy movable and immovable property of every description and may convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer or otherwise dispose of, or deal with, any movable or immovable property or any interest therein vested in the Board upon such terms as it thinks fit. (2) The objectives of the Board are— (a) to promote and develop the rubber industry of Malaysia; and (b) to develop national objectives, policies and priorities for the orderly development and administration of the rubber industry of Malaysia. (3) The provisions of the First Schedule shall apply to the Board.