Amendment status not verified — confirm the current text below against the official source.
(1) If a Promoter authorised by a licence to construct a ropeway does not, within the time specified in the licence:- (a) succeed in raising the full amount of capital required for the completion of the ropeway; (b) make, in the opinion of the State Government, substantial progress with the construction of the ropeway; or (c) complete the construction thereof; the powers given to the Promoter by such licence shall, unless the Licensing Authority extends the time so specified, cease to be exercised.