(1) Subject to sub-section (2) of this section, the institution shall remain under the management of the State Government for the period referred to in sub-section (2) of section 3 and shall be run for the purposes for which it was being run immediately before the appointed day.
(2) The State Government may, at any time before the expiry of the period referred to in sub-section (2) of section 3, make over the management to the Governing Body of the institution, constituted by the University of Calcutta in accordance with the provisions of the Calcutta University Act, 1966 and the Statutes made thereunder, with effect from such date as may be specified by the State Government by notification published in the Official Gazette; and the said date shall not be a date later than the period referred to in sub-section (2) of section 3.
(3) The Administrator appointed under section 5 shall cease to function with effect from the date specified in the notification under sub-section (2).