(1) The Western Australian Trotting Association (Incorporated) is hereby constituted a body corporate under the name of the }Western Australian Trotting Association.~

(2) The Association shall have perpetual succession and a common seal and may sue and be sued in its corporate name and shall, for the purposes and subject to the provisions of this Act, be capable of purchasing, holding, granting demising, disposing of or otherwise dealing with real and personal property, and of doing and suffering all such other acts and things as bodies corporate may by law do and suffer.

(3) Save as in this Act or the by-laws made thereunder is otherwise provided or unless inconsistent therewith the Association shall have and enjoy all the rights and privileges and be subject to the obligations which are applicable to limited companies registered under the provisions of the Companies Act 1943, ² save that the Association shall not be required to use the word }limited~ as any part of its name and shall not be required to publish its name or file with the Registrar the annual return mentioned in sections one hundred and twelve and one hundred and thirteen of the Companies Act 1943. ²

(4) Upon the commencement of this Act the Western Australian Trotting Association (Incorporated) as constituted under the Associations Incorporation Act 1895, shall cease to exist and its incorporation under such last-mentioned Act shall be dissolved and its Certificate of Incorporation revoked and the provisions of the Associations Incorporation Act 1895 shall not apply to the Association.