Section 4: Transfer of projects, etc. of the Corporation. The Federal Government may, by order,

4. Transfer of projects, etc. of the Corporation. The Federal Government may, by order, direct that__ (a) the business, projects and properties of the Corporation shall stand transferred to the Company or to such subsidiary on such date in such manner and to such extent as may be specified in the order and the business, projects and properties so transferred shall, as from that date, be carried on by, and vest, in the Company or subsidiary, as the case may be; and (b) all the shares held by the Corporation and its nominees in the capital of a Managed Company and subsidiary shall stand transferred to and vest in the Company on such date as may be specified in the order, and thereupon the Company shall become the registered holder of such shares and have the same rights under the Companies Act, 1913 (VII of 1913), or any other law or the articles of association of the Managed Company and the subsidiary as the Corporation and its nominees had immediately before the said date.

Effective date: 1984-01-01

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