Amendment status not verified — confirm the current text below against the official source.
(1) The Central Government, if it is of opinion that the Board has failed to carry out its functions under this Act or that for any other reason it is not necessary to continue the Board, may, by notification in the Official Gazette, dissolve the Board from such date as may be specified in the notification. (2) When the Board is dissolved under sub-section (1),-- (a) all members of the Board shall, from the date of dissolution, vacate their offices as such members; (b) all powers and duties of the Board shall, as from the date of dissolution, be exercised and performed by the Central Government or such person or persons as the Central Government may appoint in this behalf; (c) all funds and other property vested in the Board shall vest in the Central Government.