(1)Every Municipality shall be a body corporate by the name of the Municipality specified in the notification issued under section 4, shall have perpetual succession and a common seal, and shall, subject to any restriction or alteration imposed by or under this Act or any other law, be vested with the capacity of suing or being sued in its corporate name, of acquiring, holding and transferring property, movable or immovable, of entering into contracts, and of doing all things necessary, proper or expedient for the purpose for which it is so constituted.
