Section 3. Establishment of the Authority.

CHAPTER II ESTABLISHMENT, CONDUCT OF BUSINESS, DUTIES AND POWERS OF 1[THE AUTHORITY] 3. Establishment of 2[the Authority].- (1) As soon as may be after the commencement of this Act, the State Government shall, by notification in the Official Gazette, with effect from a date to be specified therein establish for the purposes of this Act 3[an Authority] to be called "the Maharashtra 4[Jeevan Authority]." (2) 5[The Authority] shall be a body corporate, having perpetual succession and a common seal, with powers, subject to the provisions of this Act, to acquire, hold or dispose of property, both moveable and immoveable, and to contract, and may sue or be sued by its corporate name aforesaid. (3) 6[The Authority] shall be deemed to be a local authority as defined in the Bombay General Clauses Act, 1904 (Bom. I of 1904).