Section 3
of Perumahan Rakyat 1MALAYSIA Act 2012
Section 3
A body corporate to be known as the “Perumahan Rakyat 1Malaysia Corporation” or “PR1MA Corporation Malaysia” is established.
(2)
The Corporation shall have perpetual succession and a common seal.
(3)
The Corporation may sue and be sued in its corporate name.
(4)
Subject to and for the purposes of this Act, the Corporation may, upon such terms as the Corporation thinks fit—
(a)
enter into contracts;
(b)
acquire, purchase, take, hold and enjoy movable and immovable property of every description; and
14 Laws of Malaysia ACT 739
(c)
convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer or otherwise dispose of, or deal with, any movable or immovable property or any interest in the property vested in the Corporation.