(1) For the purposes
of this Act, there shall be established a body corporate by the name of the
“Small Business Development Corporation”.
(2) Under its
corporate name the Corporation —
(a) has
perpetual succession and a common seal; and
(b) may
acquire, hold and dispose of real and personal property; and
(c) may
sue and be sued in any court; and
(d)
shall have and may exercise such powers, and shall perform such functions and
duties, as are conferred or imposed upon it by or under this Act; and
(e)
subject to this Act, is capable of doing and suffering all that bodies
corporate may do and suffer.
(3) Where in any
judicial proceedings, whether under this Act or not, a document is produced
bearing a seal purporting to be the common seal of the Corporation the court
or tribunal before which those proceedings are brought shall in the absence of
proof to the contrary presume that —
(a) the
seal is the common seal of the Corporation; and
(b) the
seal was duly affixed.
(4) Regulations made
under this Act may make provision as to the use of the common seal of the
Corporation in the State and elsewhere.