Section 3(1) in The Indian Iron And Steel Company (Taking Over Of Management) Act,1972
(1)On and from the appointed day and for a period of [five years] [Substituted by Act 36 of 1974, Section 3, for "two years" (w.e.f. 28-6-1974) ] thereafter, the management of the undertaking of the company shall vest in the Central Government:[Provided that if the Central Government is of opinion that it is expedient in the public interest that the management of the undertaking of the company should continue to vest in the Central Government after the expiry of the period of five years aforesaid, it may, from time to time, issue directions for such continuance for such further period, not exceeding two years at a time, as may be specified in the directions; so, however, that the total period of such continuance, including the period of five years aforesaid, shall not exceed ten years; and where any such direction is issued, a copy thereof shall be laid, as soon as may be, before both Houses of Parliament.] [ Added by Act 36 of 1974 Section 3. (w.e.f. 28-6-1974) ]
