16.1. The board shall become the owner from 22 December 1978 of the immoveables described in Schedule A, including all the moveable property found on the premises except moveables owned by third persons.
All the obligations existing on 22 December 1978 in respect of property contemplated in the first paragraph are assumed by the Minister of Public Works and Supply. The same rule applies to the expenditures required for the repairs and improvements necessary to restore the installations to operating condition.