Amendment status not verified — confirm the current text below against the official source.
(1) The State Government may by notification, establish for the purposes of this Act, a Board to be called the Punjab Housing Development Board, with effect from such date as may be specified in the notification. (2) The Board shall be a body corporate by the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold or dispose of property, both movable and immovable, and to contract and may by that name sue or be sued. (3) For the purpose of this Act, the Local Authorities Loans Act, 1914, the Land Acquisition Act, 1894 and the Punjab Public Premises and Land (Eviction and Rent Recovery) Act, 1959, the Board shall be deemed to be a local authority.