Power of promoter to sell when option to purchase not exercised and order revoked by consent

Where, on the expiration of any of the periods referred to in section 25, neither the State Government nor local authority purchases the undertaking, and the licence published under section 10 is, on the application or with the consent of the promoter, revoked, the promoter shall have the option of deposing of all lands, buildings, works, materials, plants and apparatus belonging to the undertaking in such manner as he may think fit.