Section 17
Vesting of property in the Corporation.
The Faridabad Development Corporation Act, 1956
About this Act
An Act to provide for the establishment and regulation of a trading Corporation for the purpose of carrying on and promoting trade and industry in the town of Faridabad, assisting in the rehabilitation of displaced persons settled therein and for matters connected therewith.
All property, assets and funds owned or acquired by
the Central Government or purporting to have been owned or acquired by the body known as the
Faridabad Development Board for the purposes of the development of Faridabad or for any of the
purposes referred to in this Act before the establishment of the Corporation shall, on such establishment,
vest in the Corporation unless the Central Government otherwise directs in respects of any part of such
property, assets or funds.