Section 35A. Change or Transfer of Management of Institution.

1[35A. Change or transfer of Management of institution.- (1) The management seeking permission of the Government for change or transfer of the management of the institution, shall apply in the form as may be prescribed by the Board or the regulatory authority, as the case may be, to the Secretary of the Board as per the schedule declared by the Board or the regulatory authority, as the case may be. (2) All such applications received within the time limit specified in the schedule shall be scrutinized by the Board and be forwarded to the Government and wherever required to the regulatory authority also, within the time limit specified in the said schedule. (3) The Government may grant permission to such institutions as it may consider right and proper in its absolute discretion, taking into account the suitability of the management seeking permission.]