Establishment and incorporation
3. (1) As soon as may be after the commencement of this Act, there shall be established [a Protishthan to be called the Bangladesh Unnayan Gobeshona Protishthan (BIDS)].
(2) The Protishthan 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.
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