Effect of the dissolution of the Board

Upon the dissolution of the Board under section 13— (a) all members shall vacate their offices; (b) all powers and duties of the Board shall vest in the State Government; (c) all property and assets of the Board shall vest in the State Government; and (d) all liabilities of the Board shall be transferred to the State Government. The Board shall have power to acquire, hold and dispose of property, both movable and immovable, and to contract and to do all things necessary for the purposes of this Act.