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Establishment and Incorporation of the University.- (1) There shall be established an unitary University called 1[The Mahatma Gandhi Rural Development and Panchayat Raj University]1 for realizing and furthering the vision, mission and objectives set out in section 4. (2) The University shall be a body corporate having perpetual succession and a common seal, with power to acquire, hold and dispose of property, both movable and immovable, and shall sue and be sued by the said name. (3) The headquarters of the University shall be at Gadag with regional centers established at such other places with the prior approval of the Government within the state as it may deem fit.