(1) If, at any time after the opening of a ropeway, it appears to the State Government that the Promoter is insolvent or is unable to maintain the ropeway or operate the same with advantage to the public, or at all, the State Government may, after considering any statement which the Promoter may desire to make and after such enquiry as it deems necessary, declare that the powers of the Promoter in respect of such ropeway, shall, at the expiration of six months from the date of such declaration, be at the end, and thereupon the said powers shall cease at the expiration of that period.
(2) At any time after the expiration of the said six months, an officer appointed by the State Government in that behalf, may remove the ropeway in the same manner and subject to the same provisions as provided for in section 47.