3. Incorporation of
the Institute.- (1) All persons whose names are entered
in the Register of the dissolved company immediately before
the commencement of this Act and all persons who may hereafter
have their names entered in the Register to be maintained
under this Act, so long as they continue to have their names
borne on the Register to be maintained under this Act, are
hereby constituted a body corporate by the name of the Institute
of Company Secretaries of India and all such persons shall
be known as members of the Institute.
(2) The Institute shall have perpetual succession and a common
seal and shall have power to acquire, hold and dispose of
property, movable or immovable and shall by its name sue or
be sued.
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