Amendment status not verified — confirm the current text below against the official source.
Dissolution of the Corporation - (1) Where the Government is satisfied that the purposes for which the Corporation was established under this Act have been substantially achieved so as to make the continued existence of the Corporation in the opinion of the Government, unnecessary, the Government may by notification declare that the Corporation shall be dissolved with effect from such date as may be specified in the notification, and the Corporation shall be deemed to be dissolved accordingly and upon such dissolution, the members including the Chairman and the Vice-Chairman & Managing Director, if any, shall vacate their respective offices from the date as specified in the said notification of dissolution. (2) All properties, funds, and dues which are vested in, or realizable by, the Corporation shall vest in, or be realizable by the Government. (3) All liabilities which are enforceable against the Corporation shall be enforceable against the Government. 13 36.Repeal of Ordinance No.14 of 2020 and saving - (1) The Andhra Pradesh State Development Corporation Ordinance, 2020 is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the said Ordinance, shall be deemed to have been done or taken under this Act.