Government management of forest at the request of owner

38. (1) Any owner of any land or, if there be more than one owner thereof, the owners of all the shares therein may, with a view to the formation or preservation of forest thereon, apply in writing to the Government to take over the management of such land and the Government may, on such application, where it is of opinion that it is expedient in public interest to form or preserve the forest, by notification, assume the management of such land.

1. (2) When the management of any land is assumed under sub-section (1) save as otherwise agreed to between the Government and the applicants, the net profit, if any, arising from the management of the forest shall be paid to the owners.
2. (3) The period of management shall be as such as may be agreed to between the Government and the applicants.