3.—(1) A body called the Economic Development Board is established.
(2) The Board is a body corporate with perpetual succession and a common seal and is by that name capable of —(a)
acquiring, owning, holding and developing or disposing of property, both movable and immovable;
(b)
suing and being sued; and
(c)
doing and suffering any other acts or things that bodies corporate may lawfully do and suffer.
(3) The Board may perform any of its functions or carry out any of its duties under the business name of “EDB”, or any other business name that the Minister may, by notification in the Gazette, specify.
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