The former officers of the Corporation whose names appear in the Second Schedule to this Decree shall each be liable to pay to the Corporation the sums of money set out against their names in the said Schedule in respect of their use of property belonging to the Corporation for private purposes; and in addition the former Managing Director of the Corporation shall be liable to pay to the Corporation the sum of money set out against his name in the same Schedule being the amount of loss which the Corporation sustained through his negligence or mismanagement.