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(1) There is established by this Act a Fund to be known as the Zongo Development Fund.

(2) The Fund is a body corporate with perpetual succession and a common seal, which may sue and be sued and have in all respects the powers of a body corporate.

(3) The Fund may for the performance of its functions acquire and hold movable and immovable property and may enter into a contract or any other transaction.

(4)  Where there is a hindrance to the acquisition of property, the property may be acquired for the Fund under the State Lands Act, 1962. (Act 125) and the cost shall be borne by the Fund.