Establishment of the Authority

(1) There is hereby established an Authority to be called the Belize Land Development Authority which shall be a body corporate with perpetual succession and a common seal and shall have capacity to purchase, take, hold and dispose of land and other property of whatever kind, to enter into contracts, to sue and be sued in the said name and to do all things necessary for the purpose of this Act. (2) The seal of the Authority shall be affixed to any instrument in the presence of the Chairperson and shall be authenticated by the joint signature of one director of the Board and of the secretary. A seal shall not be affixed except by the authority of a resolution of the Board. (3) The seal of the Authority shall be kept in the custody of the secretary.