If a promoter authorised by an order to construct an aerial ropeway for the public carriage of passengers, animals or goods does not, within the time specified in the order,-(a)succeed in raising the full amount of capital required for the completion of the ropeway, or(b)substantially commence the construction of the ropeway, or(c)complete the construction thereof, the powers given to the promoter by such order shall, unless the [State Government] [Words substituted by the Government of India (Adaptation of Indian Laws) Order, 1937 and the Adaptation of Laws Order, 1950, respectively.] prolongs the time so specified, cease to be exercised.
