Power to assume management of forest

(1) In case of neglect of or willful disobedience to any regulation or prohibition under Section 35, or if the purpose of any work to be construed under that section so require, the State Government may after notice in writing to the owner of such forest or after considering his objections, if any, place the same under the control of a Forest Officer and may declare that all or any of the provisions of this Act relating, to reserved forests shall apply to such forest or land. (2) The net profits, if any, arising from the management of such forest or land shall be paid to the said owner.