Section 3. Constitution of Board.

(1) The State Government shall, by notification in Official Gazette, constitute a Board to be known as the Maharashtra Municipal Property Tax Board to exercise the powers conferred on, and to perform the functions assigned to it, under this Act. (2) The Board shall be a body corporate, having perpetual succession and a common seal and shall have the power to acquire, hold and dispose of the property, both movable and immovable and to contract and shall, by the name as aforesaid, sue or be sued.