(1) The general superintendence, direction, contol and management of the affairs and business of the undertaking, the right, title and interest in relation to which have vested in the State Government under sub-section (1) of section 3, shall—
(a) by virtue of the provisions of sub-section (2) of section 3, vest in the Corporation or in such person and to such extent or limitations as the Corporation may by order in writing, specify ; or
(b) where a direction has been issued by the State Government under sub-section
(1) of section 6, vest in the new Government company or in such person and to such extent or limitations as the new Government company may, by order in writing, specify ;
and thereupon the Corporation or the new Government company or, as the case may be, such persons shall be entitled to exercise, to the exclusion of all other persons, all such powers and do all such things as the proprietors were authorised to exercise and do in relation to their undertaking.
(2) Notwithstanding anything contained in sub-section (1) or any other law for the time being in force, it shall be lawful for the Corporation or the new Government company to reorganise the functioning of the different units and offices of the undertaking and the employees employed therein and thereby restructure such units and offices with such strength of employees as the Corporation or such new Government company deems fit.