Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything contained in section 3 and 4, the State Government may, if it is satisfied that the Board is willing to comply, or has complied, wit.h such terms and conditions as that Government may·think fit to .impose, direct by notification, that the undertajdng of the company and the right, title and interest of the company in relation to its undertaking which has vested in that Government, vest in that Board either on the date of the notification or on such earlier or later date (not being a date earlier than the appointed day) as may be specified in the notification .. . . (2) Where the right, title and interest of the company in relation to its undertaking vest in the Board under sub-section (1 ), the Board shall on and from the date of such vesting, be deemed to have become the owner in relation to such undertaking and all the rights and liabilities of the State Government in relation to such undertaking shall, on and from the date of such vesting, be deemed to have become the rights and liabilities, respectively of the Board. CHAPTER III PAYMENT OF AMOUNTS Payment of