Establishment of the Board

(1) The Government may, by notification, establish, for the purposes of the Act, a Board to be called the Jammu and Kashmir Property Tax Board. (2) The Board shall be a body corporate with perpetual succession and a common seal and may sue or be sued in its corporate name and shall be competent to acquire, hold and dispose of any property, both movable and immovable, to enter into contracts and to do all things necessary for the purposes of the Act.