Transfer of ownership, etc. of bridges and toll-roads
20M. (1) Where any company is formed under section 20L for any bridge or toll-road, the Authority shall transfer its ownership, right, title, interest, power and possession, together with its obligations, debts and liabilities, in respect of such bridge or toll-road, as the case may be, to the company in such manner, and on such terms and conditions, and for such consideration, as may be agreed upon between the Authority and the company.
(2) Upon the transfer as aforesaid, the said company shall carry on the administration, management, operation and maintenance of the bridge or toll-road, as the case may be, so transferred in an efficient and business like manner keeping in view the investments made, costs incurred, purpose for which it is established or constructed and the interest of the public.
(3) Notwithstanding the transfer of any bridge or toll-road under sub-section (1), the provisions of this Ordinance and the rules and regulations shall continue to apply to such bridge or toll-road, as the case may be, and the said company shall exercise all rights and powers of the Authority regarding the administration, management, operation and maintenance of such bridge or toll-road, as the case may be, under this Ordinance and the rules and regulations, including the power to make or give orders or directions in respect thereof under any regulations, as if it were the Authority.