Establishment and constitution of Board

(1) With effect from such date as the Administrator may, by notification appoint in this behalf, there shall be established for carrying out the purposes of this Act a Board to be known as "the Housing Board, Chandigarh", with headquarters at such place as the Administrator may specify. (2) The Board shall, by the name aforesaid be a body corporate having perpetual succession and a common seal, and subject to any restriction by or under this Act or the rules thereunder, shall have the power to acquire, hold, administer and transfer property, movable or immovable, and to enter into contracts, and shall by the said name sue or be sued and do all such things as are necessary for which it is constituted. (3) For the purposes of this Act and the Land Acquisition Act, 1894, the Board shall be deemed to be a local authority. Explanation.—The purposes of this Act referred to in sub-section (3) include the management and use of lands and buildings belonging to or vesting in the Board under or for the purposes of this Act and the exercise of its rights over and with respect to such lands and buildings for the purposes of this Act. (4) The Board shall consist of a Chairman and seven other members appointed by the Administrator. (5) The Chairman or a member may at any time resign his office by submitting his resignation to the Administrator: