Ownership of Computer under Computer Reimbursement Allowance

Is it true that the staff will immediately own the equipment upon reimbursement of the computer allowance?  

Principally, the provision of computer allowance is a ‘privilege’ given by the University to the eligible staff via reimbursement as an appreciation for their loyalty and contribution to the University. Being guided by such spirit, the ownership of the equipment belongs to the staff, however, the University may repossess the computer and printer entitlement should the staff leave, dismiss or terminated from the University before serving a minimum of 12 months of service.