(1) The State Government may, at any time within the period of five years referred to in subsection (2) of section 3, acquire the institution by notification.
(2) On and from the date of the notification referred to in sub-section (1) (hereinafter referred to as the date of vesting),—
(i) the institution shall stand transferred to, and vest absolutely in, the State Government, free from all encumbrances;
(ii) the institution shall be run by the State Government as a State institution;
(iii) any contract, whether express or implied, or other arrangement, whether made under any statute or otherwise, in relation to the management of any property or other affairs of the institution, and in force immediately before the date of vesting shall be deemed to have terminated on and from the date of vesting;
(iv) every person (not being a part-time or averaged employee) who has been an employee of the institution before the date of vesting shall, on and from the date of vesting, become an employee of the State Government and such employee shall, if found to be eligible as per prescribed norms formulated for the institution, hold office on the same terms and conditions as would have been admissible to him as if there had been no such vesting and shall continue to do so unless and until his employment under the State. Government is duly terminated or until the terms and conditions of his service are duly altered by the State Government by rules made in this behalf:
Provided that the services of every person who expresses his unwillingness to continue in service in terms of the provisions of this clause shall stand terminated with effect from the date of vesting or from any other date to be intimated by him;
(v) notwithstanding anything contained in any other law for the time being in force or in any contract, custom or usage, to the contrary, the transfer of the service of any employee of the institution to the service of the State Government shall not entitle such employee to any compensation on any account whatsoever and no claim in this behalf shall be entertained by any court, tribunal or authority.
Payment of 5. ( 1) For the transfer to, and vesting in, the State Government of the institution under section compensation. 4, the compensation payable by the State Government for the buildings shall be such as may be determined by the Competent Authority referred to in sub-section (3) of this section, subject to the condition that deduction of all grants and contributions made by the State Government directly or through the Local Bodies to the institution for the purpose of lands and buildings prior to the appointed day shall be made and subject further to the condition that the total amount of financial assistance, received from the Government, if any, for construction of buildings by the institution prior to the appointed day, shall be taken into consideration for determination of the quantum of such compensation.
(2) The compensation payable by the State Government for all other assets excepting the buildings as provided in sub-section (1) shall be the market value thereof determined by the Competent Authorty referred to in sub-section (3) after deduction of all grants and donations made by the State Government{ to the institution specifically for the purpose of creation of such other assets prior to the appointed day.
(3) The Special Land Acquisition Collector, Paschim Medinipur, shall be the Competent Authority for the purposes of this Act.
(4) Any person aggrieved by the award of the Competent Authority, may appeal to the Appellate Authority within thirty days from the date of the award and the District Judge, Paschim Medinipur, shall be the Appellate Authority for this purpose.
(5) The State Government shall, as soon as possible after the date of the award made by the Competent Authority or, as the case may be, the date of the order of the Appellate Authority in the case of an appeal, pay to the persons found entitled the amount of compensation determined under this section.
(6) The amount of compensation determined under this section shall carry interest at the rate of six percent per annum with effect from the date of vesting till the date of payment of compensation:
Provided that the rate of interest on the amount of compensation for the buildings shall be such as may he prescribed.
?AaT 111 affect of taking wer of nanagement.
Appointment of Principal.
Penalty.
THE KOLKATA GAZETTE, EXTRAORDINARY, FEBRUARY 17, 2003 [3 The Midnapore Medical College (Taking aver of Management and Subsequent Acquisition) Act, 2002.
(Sections 6-8.)