Section 6: Holding of abandoned property and its surrender, etc

6. Holding of abandoned property and its surrender, etc.—(1) Every person who is, or has at any time after the sixteenth day of December ,1971, been in possession, supervision or management of any abandoned property shall be deemed to hold or to have held, as the case may be, such property on behalf of the Board. (2) As soon as may be, but not later than such date as may be notified by the Federal Government in the official Gazette, every person who is, or has at any time after the sixteenth day of December 1971, been in possession, supervision or management of any abandoned property or property which he knows or has reason to believe to be abandoned property, and whose authority or right to hold, occupy, supervise or manage such property has not been accepted or approved by the Administrator, shall submit to the Administrator, or to any person authorised by him in this behalf,— (a) full information relating to such property, including the date since when, or the period for which, he had been in possession, supervision or management thereof; and (b) a detailed account of the rents, profits, income and other moneys received or benefits derived from such property since the sixteenth day of December, 1971, or for the period he has been in possession, supervision or management thereof. (3) Every person as aforesaid shall, as soon as may be, but not later than such date as may be notified by the Federal Government in the official Gazette, intimate to the Administrator in writing his willingness to surrender such property to the Administrator or to any person authorised by the Administrator in this behalf, and shall surrender the same if called upon by the Administrator or any person authorised as aforesaid.

Effective date: 1975-01-01

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