Section 33. Surcharges

33. (1) A member of the Institute, the Board, any authority or other body of the Institute, as the case may be, or an officer, other employees of the Institute shall be liable to surcharge for the loss, waste or misapplication of any money or property of the Institute, if such loss, waste or misapplication of any money or property of the Institute, if such loss, waste or misapplication is a direct consequence of his/her neglect or misconduct. (2) The Procedure of imposing surcharge and the manner of recovery of the amount involved in such loss, waste or misapplication shall be such as may be prescribed.