Section 3 in The Great Eastern Hotel (Acquisition of Undertaking) Act, 1980
3. Acquisition of the undertaking of the company.
(1)On and from the appointed day, the undertaking of the company shall, by virtue of this Act, stand transferred to, and vest absolutely in, the State Government.(2)[ Upon the vesting of the undertaking of the company in the State Government under sub-section (2), the State Government may, for efficient management and administration thereof, provide by notification for the transfer of the undertaking of the company (save the lands and buildings forming part thereof) to, and vesting thereof in, the Hotel Authority with effect from such date as may be specified in the notification.] [[Sub-Section (2) substituted by W.B. Act 37 of 1989. Original sub-Section (2) was as under:-'(2) Upon the vesting of the undertaking of the company in the State Government under sub-section (1), the State Government shall, for efficient management and administration thereof, provide by notification for the transfer of the undertaking of the company to, and vesting thereof in. the Hotel Authority with effect from such date as may be specified in the notification.'.]](3)[ The State Government may allow the lands and buildings mentioned in sub-section (2) to be used by the Hotel Authority for the purpose of giving effect to this Act on such terms and conditions as may be provided by notification with effect from the date of issue of the notification under sub-section (2).] [Sub-Section (3) inserted by W.B. Act 37 of 1989.]
