Section 7 : Company to be a body corporate

(1) A company incorporated under this Act shall be a self-governing and organised institution with unbroken succession.

(2) The Company may, subject to this Act, acquire, hold, sell or otherwise dispose of movable and immovable property, including personal property.

(3) The company may be sued in its own name and the company may be sued in the same name.

(4) The company may enter into contracts with individuals and exercise its rights and obligations under the contract.