( I) Where a concession agree ment lS termmated by the Government agency or Board or the statutory body without the consent of the conce~Ionaue or In the absence of any default by the concessionaire, the conce~siOnalfe ~hall be entitled to such amount of compcnsa~on for such termmanon as specified m the concessiOn agreement.
(2) A concessiOn agreement may proVIde that If a default specified therem 1s committed by the conces~ionau·e, the Government agency or the Board or the statutory body ~hall, after g1vmg to the concessionaire a reasonable opportunity of being heard, ~have the nght to terminate tlte concess1on agreement and,-
(a) take over the transport facility Without rcpaymg the amount mvestc~ by the concedss1 1 ona1retam.K. thcb· eq 1 wty and shalt! a 1 sstlumc the llab~htyli~tl1e ~ concess10na1retowar s oans <-n y Irmlllrespec o 1e transport1aCI .;;or -
(b) ente1 mto a concessiOn agreement with another party, whose name 1s 1 ecommended by the Board, on the same terms and conditions as are speCified m the concos1on agrcl'mcntso ternunated.
• 147