Vesting or transfer of management, of certain endowments.

The State Government shall, from such date as it determines, and in the manner hereinafter provided, transfer the endowment, or the management thereof to a committee (hereinafter referred to as "committee") and thereupon such endowment together with all the immovable or moveable property appertaining thereto, or as the case may be, management thereof shall vest in the members of such committee ; and the members of the committee shall be the trustees or such endowment within the meaning and for the purposes of this Act.