Section Text
Every member of a Board shall be liable for the loss, waste or misapplication of any money or other property1[belonging to, vested in, or entrusted to the management of, the Board] if such loss, waste or misapplication is a direct consequence of his neglect or misconduct while such member; and a suit for compensation for the same may be instituted against him either by the Board or by the2[Central Government].
________________________
1. Substituted by Act 15 of 1983, section 21, for "belonging to the Board" w.e.f. 1-10-1983.
2. Substituted by the A.O. 1937, for "Secretary of state for India in Council".