Chapter IV MANAGEMENT, ETC., OF THE UNDERTAKING OF THE CLUB

Management, etc., of the undertaking of the club.—(1) The general superintendence, direction, control and management of the affairs and business of the undertaking of the club, the right, title and interest in relation to which have vested in the Government under section 4, shall—

1. (a) where a direction has been made by the Government under sub-section

1. (1) of section 6, vest, on and from the date specified in such direction, in the Government company specified therein ; or
   • (b) where no direction referred to in clause
   • (a) has been made, vest, on and from the appointed day, in the custodian appointed by the Government under sub-section (2), and thereupon the Government company or the custodian so appointed, as the case may be, shall be entitled to exercise, to the exclusion of all other persons, all such powers and do all such things as the club is authorised to exercise and do in relation to the undertaking.
2. (2) The Government may appoint one or more officers of the Government or a committee of officers of the Government as the custodian of the undertaking in relation to which no direction has been made by them under sub-section
3. (1) of section 6, and the custodian so appointed shall receive, from the funds of the undertaking, such remuneration as the Government may fix and shall hold office during the pleasure of the Government.
4. (3) The custodian of the undertaking shall maintain an account of the undertaking in such form and manner and under such conditions, as may be prescribed.

Duty of persons in charge of management of the undertaking to deliver all assets, etc.—(1) On the vesting of the management of the undertaking of the club in a Government company or on the appointment of a custodian, all persons in charge of the management of the undertaking of the club immediately before such vesting or appointment shall be bound to deliver to such Government company, or the custodian, as the case may be, all assets, books of account, registers and other documents in their custody relating to the undertaking.

1. (2) The Government may issue such directions as they may deem desirable in the circumstances of the case to the Government company or the custodian as to the powers and duties of such Government company or custodian and such Government company or custodian may also, if it is considered necessary so to do, apply to the Government at any time for the instructions as to the manner in which the management of the undertaking shall be conducted or in relation to any other matter arising in the course of such management.

Duty of persons to account for assets, etc., in their possession.—(1) Any person who has, on the appointed day, in his possession or under his control, any assets, books, documents or other papers relating to the undertaking of the club, which has vested in the Government or a Government company under this Act, which belongs to the club, or would have so belonged, if the undertaking of the club had not vested in the Government or such Government company, shall be liable to account for the said assets, books, documents and other papers to the Government or the Government company and shall deliver them up to the Government, or such Government company or the custodian, as the case may be, or to such person or body of persons as the Government or the Government company or the custodian may specify in this behalf.

1. (2) The Government may take or cause to be taken all necessary steps for securing possession of the undertaking which has vested in them under this Act.
2. (3) The club shall, within such period as the Government may allow in their behalf, furnish to the Government a complete inventory of all the property and assets, as on the appointed day, pertaining to the undertaking which has vested in the Government under section 4, and for this purpose, the Government or a Government company shall afford to the club all reasonable facilities.