(1) With effect from such date as the Central Government may, by notification, appoint in this behalf there shall be established a Foundation to be called the Kalakshetra Foundation.
(2) The Foundation shall be a body corporate by the name aforesaid, having perpeiual succession and a common seal, with power to acquire, hold and dispose of property, both movable and immovable, and to contract and shall by the said name sue and be sued.
(3) The office of the Foundation shall be located at Thiruvanmiyur, Madras.
9. The objects of the Foundation shall be,—
(i) to emphasise the essential unity of ,all true arts;
(ii) to work for the recognition of the arts as vital to the individual, national and international growth;
(Hi) to maintain the highest traditions of art and culture in their pristine purity and in conformity with traditions;
(iv) to arrange for the training, research, study, teaching and development of art and science, music, dance-drama, fine arts and Bharat-Natyam; and
(v) to ensure that the principles of "education without fear" and "art without vulgarity" are adhered to in the activities of the Foundation and not to permit any deviation from these high ideals.