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(1) There is established by this Act a body corporate with perpetual succession to be known as the Economic and Organized Crime Office.

(2) Where there is hindrance to the acquisition of property, the property may be acquired for the Office under the State Property and Contracts Act, 1960 (C.A.6) or the State Lands Act, 1962 (Act 125) and the cost shall be borne by the Office.