Amendment status not verified — confirm the current text below against the official source.
( I) The State Government shall, by order in writing, appoint an Administrator for managing the Company in accordance with the provisions of this Act and the rules made thereunder. (2) The State Government may appoint one or more persons to assist the Administrator in carrying out his functions under this Act. (3) The terms and conditions of service of the Administrator and other person or persons who may be appointed to assist the Administrator shall be such as may be prescribed.