(1) There is hereby established a body to be known as the Precious Metals Corporation. (2) The Corporation shall be a body corporate with perpetual succession and a common seal and may sue and be sued in its corporate name.

Section 2

2. Corporation to acquire property

(1) Subject to the limitations imposed on it by this Act relating to its functions, the Corporation may purchase, acquire, manage or dispose of movable or immovable property and may enter into contracts and transactions it considers expedient. (2) Where there is a hindrance to the acquisition of property under subsection (1), the property may be acquired for the Corporation under the State Property and Contract Act, 1960 (C.A. 6) or the State Lands Act, 1962 (Act 125) and the Act shall apply with respect to the acquisition with the modifications that are necessary to provide for the vesting of the property acquired in the Corporation and for the cost of the acquisition to be defrayed by the Corporation.