(1) Where any property forming part of the undertaking of the said Institution stands transferred to the Society under section 7, every person, in whose possession or custody or under whose control the property may be, shall deliver the property to the Society forthwith.
(2) Any person who on the appointed date has in his possession or under his control any books, documents or other papers relating to the undertaking of the said Institution which stand transferred to the Society and which form part of the undertaking of the said Institution or would have so formed part if the undertaking of the said Institution had not been transferred to the Society shall be liable to account for the said books, documents and papers to the Society and shall deliver them up to the Society or to such person as the Society may specify in this behalf.