Taking over of Management of affairs of the School

(1) With effect from the appointed day,- (a) the management of the School shall vest in the Government; (b) every member of the Managing Committee, by whatever name called, shall cease to exercise any power of management in relation to the School; and (c) the Government shall be deemed to have been in actual possession of the School. (2) All assets and liabilities of the School and Managing Committee thereof, whether moveable or immovable, including lands, building, laboratories, workshops, libraries, instruments, machinery, vehicles, cash balance, funds including reserve fund, investment, furniture and books and other things shall, on the date of vesting of the School under sub-section (1), stand transferred to, and vested in, the Government free from all encumbrances.