Management, etc., of the closed textile undertakings

Management, etc., of the closed textile undertakings.—(1) The general superintendence, direction, control and management of the affairs and business of each closed textile undertaking, the right, title and interest in relation to which have vested in the State Government under section 3, shall vest in the State Textiles Corporation.

1. (2) The State Textiles Corporation shall be entitled to exercise all such powers and do all such things as the owner of the closed textile undertaking is authorised to exercise and do.
2. (3) The State Textiles Corporation may authorise any person or persons to exercise all or any of the powers exercisable by it under this Act and the person or persons so authorised shall manage the business of the closed textile undertaking in accordance with the direction of the State Textiles Corporation.
3. (4) Notwithstanding anything contained in any law for the time being in force, the State Textiles Corporation may appoint as many persons as it thinks fit to serve as managers of the closed textile undertaking and shall exercise general superintendence, direction and control over them.