Amendment status not verified — confirm the current text below against the official source.
(1) The State Government may, by an order published in the Official Gazette, take over the management of the undertaking of the company and appoint an officer not below the rank of a Deputy Secretary to the State Government (hereinafter referred to as the Administrator), for managing the undertaking of the company in accordance with the provisions of this Act and the rules made thereunder. (2) An order made under sub-section (I) shall remain in force for a period of three years from the date of its publication in the Official Gazette.