Section 10(1) in The Shipping Development Fund Committee (Abolition) Act, 1986
(1)Where the Central Government requires a shipowner to discharge his dues and liabilities pursuant to a notice issued under section 8 and the shipowner fails to comply with such notice, the Central Government may, notwithstanding anything contained in any other law for the time being in force, or anything contrary contained in any agreement, deed or other instrument in the nature of any guarantee or counterguarantee, and without prejudice to anything contained in section 9, by notified order, appoint as many persons as it thinks fit,-- , or(a)to be directors of the company, if the shipowner is a company, as defined in the Companies Act, 1956 (1 of 1956), or(b)in any other case, to be the administrators of the shipping concern.
