(1) With effect from the appointed day the Administrator or the Committee appointed under section 6 shall have all the powers of management and control in relation to the institution together with—
(a) all lands thereof and appurtenant thereto and all buildings, erections and fixtures on such lands;
(b) all furniture, equipments, stores, moneys and other assets of institution.
(2) (i) All persons exercising any power of management in relation to the institution by the terms of the constitution or management of the institution or by virtue of any judgement, decree or order of any court, in relation to the institution, immediately before the appointed day, shall be deemed to have vacated their offices and shall cease to exercise such power;
(ii) All such persons including the Receiver or the Administrator appointed by any court or any other person who has in his possession, custody or control any asset or assets of the institution shall forthwith deliver possession of such asset or assets to the Administrator or the Committee appointed under section 6.
5. 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 46 XII of 1978.]
The Netaji Nagar College (Taking over of Management) Act, 1978.
(Sections 6-8.)
run immediately before the appointed day and upon the expiry of the said period the management shall revert to the person or persons who were in charge of the management of the institution immediately before the appointed day.