Dissolution of Board

General197940 sections

Statutory text

(1) No provision of law other than this Act, relating to the winding up, dissolution or liquidation of the companies or corporations shall apply to the Corporation.
(2) The State Government may, if the Corporation exceeds its powers or upon receipt of report under section 29, call upon the Board to show cause why it should not be dissolved, and if no explanation is offered within the specified period, or if the State Government is not satisfied with the explanation, it may dissolve the Board from such date as may be specified.

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