Section 10: Transfer of property.

1 All Property held by or on behalf of the Provisional Council of the University shall by virtue of this subsection, vest in the University and be held by it for the purpose of the University.

2 The provisions of the Second Schedule to this Act shall have effect with respect to, and to matters arising from, the transfer of property by this section and with respect to the other matters mentioned in that Schedule.

3 The condition of service of employees in the University shall be in accordance with what is obtainable in the maritime industry to enable the University attract best brains for training and research.
[Second Schedule]