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(1) There is hereby established a body corporate to be known as the Tema Food Complex Corporation in this Decree referred to as "the Corporation".

(2) The Corporation shall have perpetual succession and a common seal and may sue and be sued in its corporate name.

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