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(1) On and from the date on which this Act comes into force, the Ajmer Bhoodan Yagna Board established under section 3 of the Ajmer Act hereby repealed shall stand dissolved. (2) All assets and properties of the Board so dissolved shall, on and from the date on which this Act comes into force, vest in, and all liabilities subsisting against the said Board on the said day shall be the liabilities of the Rajasthan Bhoodan Yagna Board established under section 3 of the principal Act.