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(1) There is hereby established a Council to be known as "the National Sports Council", in this Decree referred to as "the National Council."

(2) The National Council shall be a body corporate, have perpetual succession, have a common seal which shall be officially and judicially noticed, and may sue and be sued in its corporate name.

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