3. Taking over of the management and control of the undertaking of the Company.
- The State Government may, by notification in the Official Gazette (a copy of which shall be served on the Company), take over for a period of five years with effect from such date as may be specified in the notification (hereinafter referred to as the appointed day), not being earlier than seven days from the date of publication of the notification in the Official Gazette, the management and control of the undertaking of the Company for the purposes, and in accordance with the. provisions, of this Act.
