Dissolution of the Corporation
82. (1) The Government may, by notification in the official Gazette, declare that the Corporation shall be dissolved from such date as may be specified in the notification, and thereupon the Corporation shall stand dissolved on and from that date.
(2) On and from the date of the notification under sub section (1),-
(a) all properties, funds and dues which immediately before the said date were vested in or were realisable by the Corporation shall vest in and be realisable by the Government;
(b) all liabilities which, immediately before the said date were enforceable against the Corporation shall be assumed by, and be enforceable against the Government; and
(c) for the purpose of completing the execution of any scheme or project sanctioned under this Ordinance which has not been fully executed by the Corporation and of realising properties, funds and dues referred to in clause (a), the functions of the Corporation shall be discharged by the Government.