(1) The State Govrnment may, by order published in the Official Gazette, supersede the Corporation for such period as may be specified in the order after giving a reasonable opportunity to the Corporation to show cause against the order proposed to be issued and after considering the objection, if any, of the Corporation:
Provided shall it shall not be necessary to give any opportunity to the Corporation to show cause against the order proposed to be issued if the State Government is of the opinion that it is neither expedient nor necessary to do so in the public interest.
(2) Upon the publication of the order under sub-section (1) superseding the Corporation,—
(a) all the members of the Corporation shall as from the date of supersession vacate their respective offices as such members;
(b) all the powers and duties which may by or under the provisions of this Act or of any other law for the time being in force be exercised or performed by or on behalf of the Corporation shall during the priod of supersession be exercised and performed by such person or persons as the State Government may direct;
(c) all property vested in the Corporation shall during the period of supersession vest in the State Government.
Power of State Government to issue instructions.
Furnishing of returns etc.
Supersession of the Corporation.
281 The West Bengal Minorities Development and Finance Corporation Act, 1995.
[West Ben. Act Liquidation of the Corporation.
Recovery of sums due.
Power to make rules.
(Sections 29-31.)
(3) On the expiration of the period of supersession as specified in the order issued under sub-section (1), the State Government may—
(a) extend the period of supersession for such further term as it may consider necessary, or
(b) reconstitute the Corporation in the manner provided in this Act for establishing the Corporation.
29. No provision of any law relating to the winding up of companies or corporations shall apply to the Corporation and the Corporation shall not be placed in liquidation save by order of the State Government and save in such manner as may be directed by the State Government.
30. Any sum payable to the Corporation shall be recoverable as an arrear of land revenue under the Bengal Public Demands Recovery Act,
1913.