OPERATION OF STATE HOUSING CORPORATION (RECOVERY OF PROPERTIES) ACT, 1969

The title in each of the estate houses specified in the First Schedule shall vest in the State Housing Corporation which shall accordingly take possession of those houses.

(1) The former officers of the Corporation whose names appear in the Second Schedule are each liable to pay to the Corporation the sums of money set out against their names in that Schedule in respect of their use of property belonging to the Corporation for private purposes. (2) The former managing director of the Corporation is liable to pay to the Corporation the sum of money set out against the name of that director in the Second Schedule being the amount of loss which the Corporation sustained through the negligence or mismanagement of that managing director.