150.—(1) On the establishment day there shall stand established a board to be known as An Bord um Thionóntachtaí Cónaithe Príobháideacha or, in the English language, the Private Residential Tenancies Board (in this Act referred to as “the Board”) to perform the functions conferred on it by this Act.

(2) The Board shall be a body corporate with perpetual succession and an official seal and power to sue and be sued in its corporate name and, with the consent of the Minister, to acquire, hold and dispose of land, or an interest in land and to acquire, hold and dispose of any other property.

(3) The Board shall, subject to the provisions of this Act, be independent in the performance of its functions.

(4) The Board shall have all such powers as are necessary or expedient for or incidental to the performance of its functions under this Act.