(1) If, at any time, it appears necessary to the Government so to do, they may, by notification, declare that any industrial undertaking specified in the First Schedule to this Act, whether started, acquired or otherwise taken over by the Government and carried on or proposed to be carried on by the Government or under their authority, or to which any loan, guarantee or other financial assistance has been provided by the Government, shall, with effect on and from the date specified for the purpose in the notification, be conducted to serve as a measure of unemployment relief or of preventing unemployment; and every such undertaking shall be deemed to be a relief undertaking for the purposes of this Act.
(2) A notification under sub-section (1) shall have effect for such period not exceeding twelve months as may be specified in the notification; but it shall be renewable by like notifications from time to time for further periods not exceeding twelve months at a time, so however, that all the periods in the aggregate do not exceed five years.