s 2 Incorporation of statutory trustees
(1) Persons appointed under subsection 7(1) as Trustees of the Penang Free School and their successors in office shall be a body corporate under the name of the “Trustees of the Penang Free School” (“the Corporation”) and shall have perpetual succession. (2) The Corporation may sue or be sued in its name. (3) The Corporation shall have a common seal and the seal may be changed, altered and made anew as the Corporation may think fit. (4) The Corporation may, upon such terms as the Corporation thinks fit— (a) acquire, purchase, lease, take, hold and enjoy moveable and immoveable property of every description; and (b) subject to this Act, sell, convey, assign, surrender, and yield up, mortgage, demise, reassign, transfer or otherwise dispose of any moveable and immoveable property vested in the Corporation.