Section 3

The Foundation shall vest in and be managed by a Board of Trustees, which in this Act is referred to as the Board, which shall be a body corporate with perpetual succession and a common seal with the power to sue and be sued, to hold property movable or immovable, to make contracts and subject as provided, to convey, assign, surrender, mortgage, lease or otherwise dispose of movable or immovable property vested in the Board upon such terms as it may think fit.