Section 327
Body Corporate Being Eligible To Be Trustee
(1) A body corporate
which is established in accordance with law may be appointed as a
trustee.
(2) If the body corporate referred to in sub-section (1) is
appointed as a trustee, the person working as the chief of such a
body or a person to whom the power is delegated by a decision of
the board of directors of such a body shall act on behalf of such a
body.
Explanation: For the purposes of this Section, the term
'person working as the chief' means the chairperson, director,
managing director, general manager, executive director of such
body or a person empowered by such a body to work as its chief.