Power of State Government to transfer assets etc., in cases of market

committees constituted for excluded areas under replaced Acts.- Where before the commencement of this Act, any area comprised in any market area was excluded from such market area under an enactment repealed by section 154 and the area so excluded was declared as a separate market area under the said enactment and a separate market committee was constituted therefor, and both the market committees continue to function immediately after such commencement and the assets, rights and liabilities of the separate market committee are not yet determined either by agreement between the market committees or otherwise, then the State Government may, by notification, after consulting the market committees concerned provide for the transfer of the assets, rights and liabilities of the market committee in relation to the area so excluded (including the rights under any contract made by it) to the separate market committees on such terms and conditions as may be specified in such notification.