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Incorporation.- (1) The first Chancellor and the first Vice-chancellor of the University and the first members of the Board of M anagement and the Academic Council and all persons who may hereafter become such officers or members, so long as they continue to hold office or membership , are hereby constituted a body corporate by the name of Jodhpur National University, Jodhpur. (2) The movable and immovable property specified in the Schedule I shall be vested the University and the Sponsoring Body shall, immediately after commencement of this Act, take steps for such vesting. (3) The University shall have perpetual succession and a common seal and shall sue and be sued by the said name. 5 (4) The University shall situate and have its headquarters at village N arnadi, Tehsil Luni, District Jodhpur.