Section 4 in The Calcutta Tramways Company (Taking Over Of Management) Act, 1967
4. Effect of order issued under section 6. -
(1)With effect from the appointed day-(a)all persons in charge of the management of the undertaking of the Company, including persons holding offices as directors, agents or managers or any other managerial personnel of the Company immediately before the appointed day, shall cease to exercise any power of management and control in relation to the undertaking of the Company;(b)the undertaking of the Company shall be deemed to be in the custody of the Administrator who shall, as soon as may be after the appointed day, take all such steps as may be necessary to take the same into his custody or control;(c)the Administrator shall have all the powers of management and control in relation to the undertaking of the Company including any such powers as were exercised by the directors, agents or managers or any other managerial personnel of the Company immediately before the appointed day;(d)persons employed by the Company in connection with the undertaking of the Company and continuing in office immediately before the appointed day shall continue to remain under the terms and conditions of service in force immediately before the appointed day.(2)Subject to the other provisions of this Act and to the control of the State Government, the Administrator shall take such steps as may be necessary for the purpose of efficiently managing the business of the Company and shall exercise such other powers including the power to borrow money and have such other duties as may be prescribed.
