Dissolution of the Authority

Infrastructure2024124 sections8 chapters

Chapter XIII SUPPLEMENTAL AND MISCELLANEOUS PROVISIONS

Statutory text

(1) Where the Government is satisfied that the purpose for which any Authority was constituted under this Act has been substantially achieved so as to render the continued existence of such authority unnecessary, the Government may, by notification in the Official Gazette, declare that the Authority shall be dissolved and cease to exist with effect from such date as may be specified in the notification and the Authority shall be deemed to be dissolved and cease to exist accordingly.
(2) From the said date:-
- (a) all properties, funds and dues which are vested in, or realizable by the Authority shall vest in or be realizable by the Government or any agency or agencies, as may be specified by the government in this behalf;
- (b) all liabilities which are enforceable against the Authority shall be enforceable against the Government;
- (c) for the purpose of realizing properties, funds and dues referred to in clause (a), the functions of the Authority shall be discharged by the Government.

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