Amendment status not verified — confirm the current text below against the official source.
Power of the Government to direct vesting of the mills in the company.- (1) Notwithstanding anything contained in sections 4 and 5, the Government may, subject to such terms and conditions as it may think fit to impose, direct, by notification, that the mills which was vested in the Government under section 4, shall, instead of continuing to vest in the Government vest in the Company either on the date of notification or on such earlier or later date (not being a date earlier than the appointed date) as may be specified in the notification. (2) Where the right, title and interest in relation to the mills vest in the Company under sub-section (1), the Company shall, on and from the date of such vesting, be deemed to have become the owner in relation to such mills and all the rights and liabilities of the Government in relation to the 1986: KAR. ACT 29] Co-operative Textiles Mills (Acquisition and transfer) 11 mills shall, as provided under the Act, on and from the date of such vesting, be deemed to have become the rights and liabilities of the Company. CHAPTER III PAYMENT OF ACCOUNTS