43. Upon the establishment of the Board, the Madrasah Education Board functioning immediately before the commencement of this Ordinance, hereinafter referred to as the dissolved Board, shall stand dissolved, and upon such dissolution,- (a) all assets, rights, powers, authorities and privileges, and all property, movable or immovable, cash and bank balances, funds, investments and all other interests and rights in, or arising out of, such property of the dissolved Board subsisting immediately before its dissolution shall stand transferred to, and vested in, the Board; (b) all debts, obligations and liabilities incurred, all contracts entered into and all matters and things engaged to be done by, with or for, the dissolved Board before its dissolution, shall be deemed to have been incurred, entered into, or engaged to be done by, with or for, the Board; (c) services of all officers and employees of the dissolved Board shall, notwithstanding anything contained in any contract or agreement or in the terms and conditions of service, stand transferred to the Board and they shall be deemed to be officers and employees of the Board appointed by it on the same terms and conditions of service as were applicable to them in the dissolved Board unless such terms and conditions are altered, not being to their disadvantage, by the Board; (d) all suits and other legal proceedings instituted by or against the dissolved Board before its dissolution shall be deemed to have been instituted by or against the Board.