Amendment status not verified — confirm the current text below against the official source.
(1) Where any scheduled undertaking has vested in the Corporation under Section 3, every person in whose possession or custody or under whose control any property or asset, book of account, register or other document comprised in that undertaking may be, shall forthwith deliver the same to the Collector. (2) The Collector may take all necessary steps for securing possession of any such property or asset, book of account, register or document, and in particular, may use or cause to be used such force as may be necessary. (3) The Collector shall prepare an inventory of all properties, assets, book of account, registers and documents taken possession of under this section, so far as practicable in the presence of the occupier or his authorised representative. (4) Delivery of possession to the Collector under this section shall amount to delivery of possession to the Corporation. (5) Without prejudice to the provisions of the foregoing sub-sections any person referred to in sub-section (1) shall be liable to account to the Corporation for any such property or asset, book of account, register or document which he has failed to deliver to the Collector.