Incorporation of University

5 (1) The Kuladhipati and Kulapati of each University specified in Part I of the Second Schedule and the members
        of the Court, of the Executive Council and of the Academic Council thereof shall constitute a University and
        the University so constituted shall be body corporate by the name of respective University specified in Part I
        of the Second Schedule.
        *"(i-a) The Kuladhipati, the first Kulpati, and the first members of the court, of the Executive Council and of
                    the Academic Council of each University established after the commencement of this Act and specified
                    in Part II of the Second Schedule and all persons who may hereafter become such officers or members
                    thereof are, so long as they continue to hold such office or membership, will hereby, be deemed to have
                    constituted a body corporate by the name of the respective University specified in Part II of the Second
                    Schedule."
   (2) The University shall have perpetual succession and a common seat and shall be used by the said name.
   (3) Subject to the provisions of this Act, 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 have become vested in,or may have
   (4) to establish, maintain and manage colleges, teaching departments, schools of studies, centres of studies and halls;