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(1) There is hereby established, for the purposes of this Act a Board to be known as the Ghana Library Board.

(2) The Ghana Library Board, hereafter referred to in this Act as 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 shall have the power for the discharge of its functions to acquire and hold any movable or immovable property, to dispose of such property by lease or otherwise and to enter into any contract or other transactions.