Karnataka Innovation Authority

(1) As soon as may be, after the commencement of this Act, there shall be constituted by the Government an authority for the purpose of this Act, to be called the Karnataka Innovation Authority. (2) The authority shall be a body corporate by the name aforesaid, having perpetual succession and a common seal with power to acquire, hold and dispose of property, both moveable and immovable, and enter into contract, and shall by the said name sue and be sued. (3) The Headquarters of the Authority shall be at Bengaluru.