Establishment of Punjab Backward Classes Land Development and Finance Corporation

(1) The State Government may, by notification from such date as it may specify in this behalf, establish for the purposes of this Act a Corporation to be called the Punjab Backward Classes Land Development and Finance Corporation. (2) The Corporation shall be a body corporate with the name aforesaid having perpetual succession and a common seal with powers, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract, and may, by that name, sue and be sued.