Amendment status not verified — confirm the current text below against the official source.
(1) Where the Government are satisfied that the purposes for which an Authority is constituted under this Act, has been substantially achieved so as to render the continued existence of the Authority in the opinion of the Government unnecessary, the Government may by notification, declare that the said Authority shall be dissolved with effect on and from such date as may be specified in the notification; and the Authority shall be deemed to be dissolved accordingly. (2) From the said date- Dissolution of the Authority. 68 [Act No. 1 of 1975] (a) all properties, funds and dues which are vested in, or realisable by the Authority shall vest in, or be realisable by the Government; (b) all Government vacant lands placed at the disposal of the Authority shall revert to the Government; (c) all liabilities which are enforceable against the authority shall be enforceable against the Government; and (d) for the purpose of carrying out any development which has not been fully carried out by the Authorities and for the purpose of realising properties, funds and dues referred to in clause (a) the functions of the Authority shall be discharged by the Government.