Section 2: Establishment of the Chartered Institute of Directors Nigeria.

(1) There is established the Chartered Institute of Directors, Nigeria (in this Act referred to as
"the Institute").
(2) The Institute -
(a) shall be a body corporate with perpetual succession and a common seal;
(b) may sue or be sued in its corporate name; and
(c) may acquire, hold or dispose of any property, movable or immovable, for the purpose of carrying out any of its functions under this Act.
(3) The Institute shall not engage in any partisan activities nor shall any of its members or officer of the Institute engage in such activities on behalf of the Institute.