Section 3 in Calcutta Tramways Company (Acquisition of Undertaking) Act, 1976
3. Undertaking of the Company to vest in the State Government. -
[(1) On and from the appointed day, the undertaking of the Company shall, by virtue of this Act, be transferred to, and vest in, the State Government.][(2) Upon the vesting of the undertaking of the Company under subsection (1), the State Government may, for the efficient management and administration of the undertaking of the Company, provide by notification, for the transfer of such undertaking to, and vesting thereof in the new company with effect from such date as may be specified in the notification.]
