4.(1) As soon as may be after the commencement of this Act the Government shall set up the Committee. (2) The Committee shall consist of such members as the Government may, by notification in the official Gazette, appoint to be members, and the Government shall appoint from among them one to be the President and another to be the Vice-President. (3) The Committee shall be a body corporate by the name of the ¹[Bangladesh Cotton Committee], having perpetual succession and a common seal with powers to acquire and hold property both movable and immovable, and to contract, and shall by the said name sue and be sued.