Section 5Powers of Government in respect of jute companies

s. 5

5. Powers of Government in respect of jute companies Notwithstanding anything contained in any memorandum or articles of association of any jute company, or in any agreement, contract or other instrument whatsoever, the Government may, in respect of such jute company,- (a) take such measures and do such things as it deems necessary or expedient for the purpose of efficient management of the affairs and business of such jute company; (b) dissolve the Board of Directors of such jute company, or constitute a new Board of Directors, or remove a Director, or appoint a new Director; (c) modify or amend the memorandum or articles of association of such jute company or any agreement, contract or other instrument entered into or executed by or on behalf of or with such jute company.