Section 47: Apportionment of assets and liabilities.
The Andhra State Act, 1953Central Act · Act 30 of 1953
(1) Subject to the other provisions of this Part, the assets and liabilities of the State of Madras immediately before the appointed day shall be apportioned between that State and the States of Andhra and Mysore in accordance with the provisions contained in the Seventh Schedule.
(2) Any dispute relating to, or arising out of, such apportionment shall be referred to the President whose decision shall be final.