Amendment status not verified — confirm the current text below against the official source.
Taking over of management of educational institutions in public interest :- (1) When the State Government is of the opinion that the management of any educational institution should either in the public interest or in order to secure the proper management of the said educational institution be taken over, it may, after giving one month's notice to the person or body of persons in-charge of the management of such 527 educational institution to make any representation, direct by notification, that the management of the educational institution shall with effect on and from the date specified therein vest in the State Government. (2) The educational institution referred to in sub-section (1) shall be deemed to include all assets. rights, and lease holds, powers, authorities and privileges and all property- movable and immovable including lands, building. stores, instruments and vehicles, cash balance. revenue fund, investments and book debts and all other rights and interests arising out of such property as were immediately before the date of taking over of the management under sub-section ( 1) (hereinafter in this chapter referred to as the date aforesaid) in the ownership. possession, power or control of the management of such educational institution and all books of accounts, registers and all other documents of whatever nature relating thereto. ( 3) Any contract. whether express or implied, or other arrangement (not being a contract) or agreement specified in section 59 in so far as it relates to the management of the educational institution, and in force immediately before the taking over, shall be deemed to have terminated on the date aforesaid. ( 4) All persons, in whom the management of the educational institution vested immediately before the taking over shall, as from the date aforesaid. cease to be so vested and shall be deemed to have vacated their offices as such on the date aforesaid. (5) Notwithstanding anything in any other law for the time being in force, no person in respect of whom any contract of management or other arrangement is terminated by reason of the provisions contained in sub-section (3) or who ceases to bold any office by reason of the provisions contained in sub-section ( 4) shall be entitled to claim any compensation for the premature termination of the contract of management or other arrangement of for the cessation of management or for the loss of office, as the case may be. ( 6) Notwithstanding any judgment. decree or order of any court, tribunal or other authority or anything contained in any other law for the time being in force. every person in whose possession or custody or under whose control the educational institution or any part thereof, or any properties attached thereto vest shall transfer the same to the special officer appointed hy the State Government r.ir the purpose of carrying on the management of such education .!.l nsu.uuon for and on behalf of the State Government, or where n.. 0µi:c;al officer is appointed, to such other person as rhe State Government may direct. 528 (7) For the removal of any doubt a declaration as may be prescribed shall be made that any liability incurred by the private management in relation to the educational institution before the taking over shall be enforceable against the said Governing Council and not against the State Government or the Special Officer. (8) The amount payable in respect of the vesting in the State Government or the Governing Council of an educational institution under sub- section ( 1) shall be at such rate as may be prescribed. (9) The amount payable under sub-section (8) shall, subject to rules made under this Act, be paid by the competent authority to the person interested in the educational institution in such manner and within such time as may be prescribed.