Section 12: Delivery of possession of vested property

12. Delivery of possession of vested property.—(1) Where any property or other assets stand transferred to and vested in the Federal Government under this Act, every person in whose possession, custody or control any such property or assets (including books, documents, or other papers relating to Esso undertakings) may be, shall be liable to account for such property or assets and shall deliver the same to the Federal Government upon demand. (2) Without prejudice to the provisions of sub-section (1), the Federal Government may take all such steps as may be necessary to take possession or assume control of the properties, assets, books, documents and other papers referred to in that sub-section.

Effective date: 1976-01-01

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