Incorporation of the institute.

(1) With effect from such date as the Stale Government may, by notification in the Official Gazette, appoint. there shall be established a university by the name or International Institute of Information Technology—Naya Raipur with the abbreviation or "IIIT-Naya Raipur", hereinafter referred to as the Institute. Explanation—In this act the words "Institute'' and "University" have been used inter-changeably. (2) The Institute shall he a body corporate having a perpetual succession, a common seal and may by the said name sue or be sued. (3) The Institute shall he financially and administratively autonomous, having its own administrative policies and practices provided in its Statutes, Ordinances and Regulations.