Amendment status not verified — confirm the current text below against the official source.
( 1 ) The State Government may, by notification in the Official Gazette , declare that, with effect from such date as may be specified in the notification, the Authority shall stand dissolved : Provided that, no such declaration shall be made by the State Government unless a resolution to that effect has been moved in, and passed by, the Maharashtra Legislative Assembly. ( 2 ) With effect from the date specified in the notification under sub-section ( 1 )- ( a ) all the members shall vacate their office ; (b) all properties, funds and dues which are vested in or realisable by the Authority shall vest in, and be realisable, by the State Government ; ( c ) all liabilities enforceable against the Authority shall be enforceable against the State Government to the extent of the properties, funds and dues vested in, or realised by the State Government. ( 3 ) Nothing in this section shall affect the liability of the State Government in respect of loans or debentures guaranteed under sub-section ( 5 ) of section 36.