(1) There shall stand established on the establishment day a body which shall be known as An tÚdarás Náisiúnta um Uathrollú Coigiltis Scoir (in this Act referred to as the "Authority") to perform the functions conferred on it by or under this Act.

(2) The Authority -

(a) shall be a body corporate with perpetual succession and an official seal,

(b) may sue and be sued in its corporate name, and

(c) may acquire, hold and dispose of land or an interest in land or any other property, with the consent of the Minister and the Minister for Public Expenditure, National Development Plan Delivery and Reform.

(3) The official seal of the Authority shall be authenticated -

(a) by the signature of any 2 members of the Board, or

(b) by the signatures -

(i) of a member of the Board, and

(ii) of a member of staff of the Authority authorised to act for that purpose by the Board.