3. (1) As soon as may be after the commencement of this Ordinance, the Government shall establish a corporation to be called the ¹[Bangladesh] Industrial Development Corporation. (2) The Corporation shall be a body corporate by the name of the ²[Bangladesh Industrial Development Corporation], having perpetual succession and a common seal with power, subject to the provisions of this Ordinance, to acquire and hold property, both movable and immovable, and shall by the said name sue and be sued. (3) The Head Office of the Corporation shall be at Dacca but the Government may, by notification in the official Gazette, transfer it to such other place as may be specified in such notification. (4) The Corporation shall establish Regional Offices at such places as the Government may direct.