Application of Town Fund when any area ceases to be a town area

Application of Town Fund when any area ceases to be a town area.--When any area ceases to be a town area for the purposes of this Act, the balance of the Town Fund, if any, shall be applied for the benefit of the inhabitants of the said area in such manner as the Government may direct and all property vested in the Committee shall, until the committee is reconstituted, vest in the Government.