Effect of the dissolution of the Board

On the Board ceasing to exist by dissolution under Section 13; (i) all properties and funds which immediately before the said date were in the possession of the Board for the purpose of this Shall vest in the State Government; (ii) all members shall vacate office as members of the Board; and (iii) all rights, obligations and liabilities (including any liability under any contract) of the Board shall become the right, obligations and liabilities of the State Government.