3. (1) With effect from such date as the Government may, by notification in the official Gazette, appoint, there shall be established, in accordance with the provisions of this Act, a Council to be called the Press Council. (2) The Council shall be a body corporate having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and shall by the said name sue and be sued.