Transfer of property.

As soon as may be after the issue of an order under sub-section (1) of section 3, the owner or person in charge of the public electricity service shall make over to the [State] Government or such person as it may direct, all books, accounts, documents, furniture and all other property, of whatsoever nature or kind, both movable and immovable, belonging to the said service and in its possession or control considered necessary by the [State] Government for the purpose of carrying on the work of company.