(1)The Chancellor, the Vice-Chancellor, [the Pro-Vice-Chancellor] [These words were inserted by Gujarat 10 of 1982, Section 2, Schedule Sr. No. 3 (1) (w.r.e.f. 09-12-1981).], the Fellows and the members of the Syndicate [and the Academic Council] [These words were inserted by Gujarat 8 of 1966, Section 4(i).] of the University and all persons who may hereafter be appointed or elected as such Officers, Fellows or members under this Act, so long as they continue to be such officers, Fellows or members, are hereby constituted and declared to be one body corporate by the name of the [Sardar Patel University] [These words were substituted for the words 'Sardar Vallabhbhai Vidyapeeth, by Gujarat 8 of 1966, section 4(ii).], and such body corporate shall, by such name, have perpetual succession and a common seal, and by such name shall sue and be sued.(2)University shall be competent to acquire and hold property, both movable and immovable, to lease, sell or otherwise transfer any movable or immovable property which may have become vested in, or may have been acquired by it for the purpose [of the University, to raise loans upon the security of its assets] [These words were substituted for the words 'of the University' by Gujarat 40. of 1963, Section 2, Schedule, Sr. No. 3 (1) (i).] and to contract and do all other things necessary for the purposes of this Act:[Provided that, the power to raise loans upon the security of its assets shall be exercised after obtaining previous permission of the State Government.] [This proviso was added, by Gujarat 40. of 1963, Section 2, Schedule, Sr. No. 3(1) (ii).]
