Amendment status not verified — confirm the current text below against the official source.
(1) On the coming into force of this Act ali ztz property within the limits of the port other than ward. private property, vested In or belonging to or held by the Government shall, subject only to such of the charges and liabilities outstanding against such pro- perty as may be notified by the Government in that behalf, vest in, belong to and be held by the Board and shall, with a31 the other property of whatever nature or kind which may become vested in thz Board, be under its direction, manasement and control: Provided that no mads and electric installations thereon, if any, as are not public roads and which belong to Government immediately before the com- mencement of this Act shall vest in the Board under this sub-section unless Government in exchange for a price fixed and with the consent of the Board, so direct. (2) All properfy vested in or belonging to, cr acquired or held by and all moneys paid or payable to, the Board shall be deerned to be held by the Board in trust for the purposes of this Act.