Section 3 — Transfer of the management and control of the Commerce College and vesting thereof in the State Government.

(1) On and from the appointed day and for a period of five years thereafter, the management of and the control over the Commerce College and all the affairs of the said College within the State of Meghalaya shall be deemed to have been transferred to have been vested in the State Government. (2) On the transfer and vesting of the management and control over the College to the State Government under sub-section (1),- (a) the Governing Body and any other committee of the College the President, Secretary, Principal, Lecturers, if any , of the College and all other persons in-charge of or holding any other offices in the management of and control over the affairs of the College in any other capacity shall cease to exercise any power or function regarding management and control of the College within the State of Meghalaya and every such Committee or Body shall be deemed to have been superseded and dissolved and every person hereinbefore mentioned shall be deemed to have vacated their respective Offices. (b) all properties, movable and immovable and all right powers, privileges of the College within the State of Meghalaya which immediately before the commencement of this Act, belong to the College or any other committee or persons holding any other office, shall, for the purposes of such management and control, vest in the State Government and the State Government may utilise the properties for such educational purposes, including, including running a Science College, as it deems necessarily.