3. Establishment of the Academy

There is hereby established an academy by the name of

“Academy of Sciences Malaysia” which shall be a body corporate with perpetual succession and a common seal, and which may sue and be sued in its corporate name and, subject to and for the purposes of this Act, may enter into contracts and may acquire, purchase, take, hold and enjoy movable or immovable property of every description and may convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer or otherwise dispose

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of, or deal with any movable or immovable property or any interest therein vested in the Academy upon such terms as it deems fit.