Vesting of rights, liabilities, etc. of the Board on dissolution

Where the Board is dissolved under section 30A,- (a) all rights, obligations and liabilities (including any liability under any contract) of the Board on the date of dissolution shall become the rights, obligations and liabilities of the Government; (b) all properties and functions which immediately before that date were in the possession of the Board for the purposes of this Act shall vest in the Government.