(1) With effect from such date as the State Government may, by notification in the Official Gazette, appoint in this behalf, there shall be established a Board of [Auqaf] under such name as may be specified in the notification:
[Provided that in case where a Board of Waqf has not been established, as required under this sub-section, a Board of Waqf shall, without prejudice to the provisions of this Act or any other law for the time being in force, be established within six months from the date of commencement of the Wakf (Amendment) Act, 2013 (27 of 2013).]
(2) Notwithstanding anything contained in sub-section (1), if the Shia [auqaf] in any State constitute in number more than fifteen per cent. of all the [auqaf] in the State or if the income of the properties of the Shia [auqaf] in the State constitutes more than fifteen per cent. of the total income of properties of all the [auqaf] in the State, the State Government may, by notification in the Official Gazette, establish a Board of [Auqaf] each for Sunni [auqaf] and for Shia [auqaf] under such names as may be specified in the notification.
[(2A) The State Government may, if it deems necessary, by notification in the Official Gazette, establish a separate Board of Auqaf for Bohras and Aghakhanis.]
(3) The Board shall be a body corporate having perpetual succession and a common seal with power to acquire and hold property and to transfer any such property subject to such conditions and restrictions as may be prescribed and shall by the said name sue and be sued.