Declaration of local area and constitution of Development Authority

(1) As soon as may be after the commencement of this Act, the Government may, by notification in the Government Gazette, declare any area to be local area for purposes of this Act and constitute therefor an authority to be called the Development Authority hereinafter referred to as the Authority. (2) The Authority shall be a body corporate by the name of the Local Area having perpetual succession and a common seal with power to acquire, hold and dispose of property, both movable and immovable, and to contract and shall in the said name sue and be sued.