(1)With effect from the date of this Act, the Institution as specified in the Schedule of this Act shall stand transferred to and shall vest absolutely in the State Government free from all encumbrances.(2)The State Government may from time to time by a notified order amend the Schedule by the inclusion of any Institution and the same shall stand vested and transferred to in the State Government with effect from the date mentioned in the notification.(3)All the assets and properties of the Institution, Governing Body/Managing Committee/ Association, whether movable or immovable including lands, buildings, workshop stores, instruments, machinery, vehicles, cash balance, reserve fund, investment, furniture and others shall on the date of taking over, stand transferred to and vested in the State Government free from all encumbrances.
