Section 1: Establishment of the Federal Institute of Industrial Research.

(1) There is established the Federal Institute of Industrial Research (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 movable or immovable property and enter into contract or any other transaction for the purposes of performing any of its functions under this Act.