Section 1: Establishment of the Nigerian Council for Management Development.

(1) There is established the Nigerian Council for Management Development (in this Act referred to as "the Council").
(2) The Council-
(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 in its corporate name, for the purpose of carrying out its functions under this Act.