2. Establish-ment of the National Aquatic Resources Research and Develop. ment Agency

There shall be established in accordance with the provisions of this Act, the National Aquatic Resources

Research and Development Agency (hereinafter referred to as “ the Agency ”) which shall be the principal national ins-titution charged with the responsibility of carrying out and co-ordinating research, development and management activities on the subject of aquatic resources,

' 3. The Agency shall, by the name assigned to it by section 2, be a body corporate having perpetual succession and a common seal and may sue and be sued in its corporate name.