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172
| Ownerless property.
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(1)
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Any property which has no rightful owner shall, if
located in a Province, vest in the Government of that Province,
and in every other case, in the Federal Government.
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(2)
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All lands, minerals and other things of value within
the continental shelf or underlying the ocean 405[beyond] 405 the territorial
waters of Pakistan shall vest in the Federal Government.
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406[
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(3)
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Subject to the existing commitments and obligations, mineral oil and natural gas within the Province or the territorial waters
adjacent thereto shall vest jointly and equally in that Province and the Federal Government.
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] 406 |
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173
| Power to acquire property and to make contracts, etc.
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(1)
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The executive authority of the Federation and of a
Province shall extend, subject to any Act of the appropriate
Legislature, to the grant, sale, disposition or mortgage of any
property vested in, and to the purchase or acquisition of
property on behalf of, the Federal Government or, as the case
may be, the Provincial Government, and to the making of contracts.
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(2)
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All property acquired for the purposes of the
Federation or of a Province shall vest in the Federal Government
or, as the case may be, in the Provincial Government.
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(3)
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All contracts made in the exercise of the
executive authority of the Federation or of a Province shall be
expressed to be made in the name of the President or, as the
case may be, the Governor of the Province, and all such
contracts and all assurances of property made in the exercise of
that authority shall be executed on behalf of the President or
Governor by such persons and in such manner as he may direct or authorize.
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(4)
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Neither the President, nor the Governor of a
Province, shall be personally liable in respect of any contract
or assurance made or executed in the exercise of the executive
authority of the Federation or, as the case may be, the
Province, nor shall any person making or executing any such
contract or assurance on behalf of any of them be personally
liable in respect thereof.
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(5)
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Transfer of land by the Federal Government or a
Provincial Government shall be regulated by law.
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