(1) The Central Government shall, within a period of ninety days from the date of commencement of this Act, by notification, in respect of each Major Port, constitute a Board called the Board of Major Port Authority for that Major Port which shall consist of the following Members, namely:---
(a) a Chairperson;
(b) a Deputy Chairperson;
(c) one Member each from the---
(i) concerned State Government in which the Major Port is situated;
(ii) Ministry of Railways;
(iii) Ministry of Defence; and
(iv) Customs, Department of Revenue;
(d) not less than two and not exceeding four Independent Members;
(e) one Member not below the rank of Director nominated by the Central Government, ex officio; and
(f) two Members representing the interests of the employees of the Major Port Authority:
Provided that until the constitution of the Board of Major Port Authority, the Board of Trustees constituted under section 3 of the Major Port Trusts Act, 1963 (38 of 1963) shall continue to function and shall cease to exist immediately after the constitution of the Board under this Act.
(2) The Board of each Major Port Authority constituted under this Act shall be a permanent body having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold or dispose of property, both movable and immovable, and to contract, and shall, by the said name, sue or be sued.