Chapter II INCORPORATION OF PUNJAB SCHEDULED CASTES LAND DEVELOPMENT AND FINANCE CORPORATION AND ITS CAPITAL

(1) With effect from such date as the State Government may, by notification, specify in this behalf, the State Government may establish for the purposes of this Act a Corporation known as the Punjab Scheduled Castes 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 or be sued.

(1) The authorised capital of the Corporation shall be such sum not less than ten crores of rupees as the State Government may fix.