31N.—(1) There shall be appointed in accordance with section 31W a chief executive of the Office, to be known as the Planning Regulator, who shall be a corporation sole with perpetual succession and an official seal and with power—

(a) to sue and be sued,

(b) to acquire, hold and dispose of land or an interest in land, and

(c) to acquire, hold and dispose of any other property.

(2) The Planning Regulator shall—

(a) perform such functions as are specified in this Part to be functions of the Office,

(b) be responsible for the performance by the Office of its functions under this Part, and

(c) otherwise carry out, manage and control generally the administration and business of the Office for the purposes of this Part.]