Section 40(2) in The Special Economic Zones Act, 2005
(2)Upon the publication of a notification under sub‑section (1) superseding the Authority,—(a)the Chairperson and other Members of the Authority shall, notwithstanding that their term of office has not expired as from the date of supersession, vacate their offices as such;(b)all the powers, functions and duties which may, by or under the provisions of this Act, be exercised or discharged by or on behalf of the Authority shall, during the period of supersession, be exercised and performed by such person or persons as the Central Government may direct;(c)all property vested in the Authority shall, during the period of supersession, vest in the Central Government.
