Duty of persons in charge of management of the undertaking to deliver all assets, etc

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.