(1) There is hereby established a body to be known as the Ghana Precision Metals Corporation in this Decree referred to as the "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. Authority to Acquire Property

(1) Subject to any limitation imposed on it by this Decree relating to its functions, the Corporation shall have power to purchase, acquire, manage or dispose of any movable or immovable property and to enter into such contracts and transactions as may be expedient. (2) Where there is any hindrance to the acquisition of any property under subsection (1) of this section, the property may be acquired for the Corporation under the State Property and Contracts Act, 1960 (CA 6) or the State Lands Act, 1962 (Act 125) as the case may be and each such Act shall apply with respect to any such acquisition with such modifications as may be necessary to provide for the vesting of the property acquired thereunder in the Corporation and for the cost of the acquisition to be defrayed by the Corporation.