(1)The Chancellor, [the first Vice-Chancellor of the University, the first Pro-Vice-Chancellor of the University] [Substituted for 'the first Vice-Chancellor of the University' by Gujarat 21 of 1968, dated 6th November 1968.] and the first members of the Senate, the Syndicate and the Academic Council of the University and all persons who may hereafter become such officers or members, so long as they continue to hold such office or membership, are hereby constituted a body corporate by the name of "The Saurashtra University".(2)The University shall have perpetual succession and a common seal, and may sue and be sued by the said name.(3)The 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 vest in or be acquired by it for the purposes of the University, to raise loans on the securities of its assets and to contract and do all other things necessary for the purposes of this Act:Provided that the power to raise any such loan shall be exercised after obtaining previous permission of the State Government.(4)[ The headquarters of the University shall be located at Rajkot and Bhavnagar.] [Sub-section (4) substituted by Gujarat 21 of 1968, dated 6th November 1968.]
