3. Declaration of relief undertaking

3. The State Government may, if it is satisfied that it is necessary or expedient so to do in the public interest, with a view to enabling the continued running or restarting of a State industrial undertaking as a measure of preventing loss of production, working loss, loss of capital, unemployment, declare, by notification, that the State industrial undertaking shall, on and from such date and for such period as may be specified in the notification be a relief undertaking.

Provided that the period so specified shall not, in the first instance, exceed one year but may, by a like notification, be extended from time to time by period not exceeding one year at any one time, so however, that such period shall not exceed ten years in the aggregate.