Power to sell undertaking with consent of Governor
20 Power to sell undertaking with consent of Governor
The promoters may, with the consent of the Governor, sell the tramways and undertaking to any person or company, at such price and upon such terms as the promoters shall determine; and for the purpose of carrying out such sale, the promoters may grant, transfer, and assign the tramways and undertaking to the purchaser, and thereupon all the rights, powers, authorities, obligations, and liabilities of the promoters in respect of the undertaking shall vest in, may be exercised by, and shall attach to the purchaser as if the purchaser had been the original promoters. For the purposes of this section, the terms promoters shall include every person in whom for the time being the undertaking shall be vested, whether by purchase or by operation of law or otherwise.
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