Transfer of certain assets and liabilities to Board

(I) All property, assets, rights and liabilities of the State Government, Housing Board or any other Authority shall, in so far as such property, assets, rights and liabilities are relatable immediately before the date of establishment of the Board to the improvement of the slum area, the clearance of the slum area and the re-development of the slum clearance area, stand transferred to and vested in the Board. (2) If any dispute arises in respect of transfer or vesting of any property, assets, rights or liabilities under sub-section (I), the same shall be referred to the State Government whose decision shall be final.