Cessation of powers given by an order

If a promoter authorized by an order to construct an aerial ropeway, does not, within the time specified in the order, --

1. (a) succeed in raising the full amount of capital required for the completion of the aerial ropeway;
2. (b) make, in the opinion of the State Government, substantial progress with the construction of the aerial ropeway; or
3. (c) complete the construction thereof; the powers given to the promoter by such order shall, unless the State Government extends the time so specified, cease to be exercised.