Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything in any other law for the time being in force or in any contract, on and from the appointed day the undertaking shall, by virtue of this Act, stand transferred to, and vest in, the State Government. (2) The undertaking which stands vested in the State Government by virtue of sub-section (1) shall, immediately after such vesting, stand transferred to, and vested in, the Board.