Ultimate dissolution of trust, and transfer or its assets and liabilities to the committee

Ultimate dissolution of trust, and transfer or its assets and liabilities to the committee. (1) When all schemes sanctioned under this Act have been executed or have been so far executed as to render the continued existence of the trust, in the opinion of the State Government, unnecessary, or when in the opinion of the State Government it is expedient that the trust shall cease to exist, the State Government may by notification declare that the trust shall be dissolved from such date as may be specified in this behalf in such notification; and the trust shall be deemed to be dissolved accordingly. (2) From the date specified in the notification referred to in sub-section (1), - (a) all properties, funds and dues vested in or realisable by the trust and the chairman respectively shall vest in and be realisable by the State Government till they stand transferred to the municipal committee under sub-section (3); (b) all liabilities which are enforceable against the trust shall be enforceable against the State Government to the extent of the properties, funds and dues vested in and realised by the State Government; and (c) for the purpose of completing the execution of any scheme sanctioned under this Act which has not been fully executed by the trust and of realising properties, funds and dues referred to in clause (a), the functions