Effect of taking over of Management

(1) On vesting of the Management in Government, the Governing Body in charge of the Management of the affairs of the College as on the date proceeding the date of its transfer shall be deemed to have been superseded and persons thereof holding office immediately before the date of vesting shall be deemed to have vacated their office as such on that date. (2) The Administrator or any other Officer appointed under Subsection (3) of Section 3, as the case may be, shall exercise the powers and perform the functions of the Governing Body of the College.