3. (1) As soon as may be after the commencement of this Ordinance, there shall be constituted, in accordance with the provisions of this Ordinance, for the City of Chittagong a Corporation to be called the Chittagong ¹[City] Corporation. (2) The Corporation shall be a body corporate, having perpetual succession and a common seal, with powers, subject to the provisions of this Ordinance and the rules, to acquire, hold and dispose of property, both movable and immovable, and shall by the said name sue and be sued.