Amendment status not verified — confirm the current text below against the official source.
(1) Where the State Government is satisfied that the purposes for which the Development Authority is constituted under this Act have been substantially achieved so-as to render the continued existence of the Development Authority in the opinion of the State Government unnecessary, the State Govern- ment may, by notification,declare that the Development Authority shall be dissolved with effect from such date, as may be specified in the notification; and the Development Authority shall be deemed to be dissolved accordingly. (2) From, the date specified under sub-section (1)— (a) all properties, funds and dues which are vested in, or realisable by the Development Authority, shall vest in, or be realisable by, the State Government; (b) all liabilities which are enforceable against the Development Authority shall be enforceable against the State Government; and (c) for the purpose of carrying out any developement which has not been carried out by the Development Authority and for the purpose of realising properties, funds and dues referred to in clause (a) the functions of Development Authority shall be discharged by the State Govcernment.