2. Incorporation of the Chartered Institute of Transport of Sri Lanka

From and after the date of commencement of this Act, such and so many persons as are now members of the

Chartered Institute of Transport of Sri Lanka (hereinafter referred to as ‘“ the Institute”) or shall hereafter be admitted as members of the Corporation hereby constituted

(hereinafter referred to as the Corporation”) shall be a body corporate with perpetual succession, under the name and style of “The Chartered Institute of Transport of Sri Lanka”, and by that name may sue and be sued in all courts, with full power and authority to have and to use acommon seal and to alter the same at its pleasure.