Section 24(4) in The Jammu and Kashmir Aerial Ropeways Act, 2002
(4)When a sale has been made under this section, all the rights, powers and authorities of the promoter in respect of the undertaking or part thereof sold, or where a notification has been published under section 22 or section 26, all the rights, powers and authorities of the promoter previous to the publication of the notification in respect of the undertaking or part thereof sold, shall be transferred to the authorities to whom the undertaking or part thereof has been sold, and shall vest in and may be exercised by, that authority in the same manner as if the aerial ropeway had been constructed by it under ah order made under this Act.
