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(1) There is hereby established a National Playing Fields Board in this Decree referred to as "the Board".

(2) The Board shall be a body corporate, with perpetual succession and a common seal and may sue and be sued in its corporate name.

(3) The Board may, for and in connection with the carrying out of its functions under this Decree or any other enactment, purchase, hold, manage or dispose of any movable or immovable property and may enter into such contracts and transactions as may be expedient.