Debts and expenditure, etc., till the Board is established

(1) All debts and expenditures incurred, all contracts entered into all matters and things engaged to be done by , with or for the Government for the purpose of Department of Housing, Government of Bihar, created by Appointment Department Government Resolution no. Camp.- 243/55A- 135, dated Ranchi, the 27th July 1955, before and up to the date of the establishment of the Board Under this Act shall be deemed to have been incurred, entered into or engaged to be done by, with be instituted by or against the Government shall be continued or instituted by or against the Board, as the case may be. (2) All expenditure which the Government shall, not later than six months from the date of the establishment of the Board, declared to have been incurred on capital account in connection with the purposes of this Act shall be deemed to be a loan advanced to the Board on the date of such declaration: Provided that Government may extend the said period six months to a period not exceeding two years by a notification in the official Gazette. (3) All the properties, right, assets and liabilities of the Department of Housing, Government of Bihar, referred to in sub-section (1) for the purposes referred to in the Government Resolution specified in the said sub-section and all assets acquired by expenditure referred to in sub-section(2) shall upon the declaration made by the Government under sub-section(2) shall stand transferred to the Board for the purposes of this Act. (4) All proceedings under the Land Acquisition Act, 1894, (Act 1 of 1894) pending on the date of the coming into force of this Act in any area for the acquisition of Land situated in the said area for the purposes of the Department of Housing, Government of Bihar, referred to in sub-section (1) shall be deemed to be proceedings for acquisition of such land for the purposes of Board Under this Act. Explanation.- For the papooses of this "legal proceeding" includes any proceeding under the Land Acquisition Act, 1894 ( Act 1 of 1894).