15. Shipping Development Fund Committee.- (1) The Central Government shall constitute a committed to be called the Shipping Development Fund Committee (hereinafter in this Part referred to as the Committee) consisting of a chairman and such number of other members, not exceeding six, as the Central Government may think fit to appoint thereto. (2) The Committee so constituted shall be a body corporate by the name aforesaid having perpetual succession and a common seal with power to acquire, hold and dispose of property and may be that name sue and be sued. (3) The Committee shall have power to regulate its own procedure. | 
