Section 2

There shall be constituted a body corporate under the name of "the Brunei Malay Silversmiths Guild"

(hereinafter in this Act called "the Guild").

The Guild may sue or be sued in its name and shall have perpetual succession and may enter into contracts and may acquire, purchase, lease, take, hold and enjoy movable and immovable property of every description, and, subject as hereinafter provided and to any rules made pur-suant to section 7, and to the provisions of any other written law, may sell, convey, assign, surrender and yield up, mort-gage, demise, reassign, transfer or otherwise dispose of any movable or immovable property vested in the Guild upon such terms as to the Guild may seem fit.