Dissolution of the Board

(1) The Government may, by notification in the Andhra Pradesh Gazette, declare that with effect from such date as may be specified in the notification, the Board shall be dissolved. (2) With effect from the date specified in the notification under sub-section (1)- (a) all properties, funds and dues which are vested in and realizable by the Board shall vest in and be realizable by the Government; (b) all liabilities enforceable against the Board shall be enforceable against the Government to the extent of the properties, funds and dues vested in and realized by the Government; (3) Nothing in this section shall effect the liability of the Government in respect of loans or debentures guaranteed under sub-section (5) of section 62.