On the issue of a notification under Section 6-B constituting a new committee for the market areas amalgamated the following consequences shall ensue, namely -
(a) all the property under the control of a Committee immediately before the date of amalgamation including funds shall be the property and fund of the new Committee;
(b) the staff of the Committee of the amalgamated market areas shall, until otherwise ordered by the State Government in accordance with the provisions of the Act, be continued and deemed to be the staff appointed by the new Committee;
(c) all rules, bye-laws, orders and notifications in force in the area of the Committees amalgamated immediately before the date of amalgamation shall, except the rules, bye-laws, orders and notifications in respect of such matters, as may be specified by the State Government by notification issued in that behalf, stand repealed and the rules, bye-laws, orders, and notifications in respect of matters specified therein shall operate, throughout the area of new Committee until altered, amended or cancelled in accordance with the provisions of this Act;
(d) any right, privilege, obligation or liability acquired, accrued or incurred by the Committees amalgamated shall be deemed to be the right, privilege obligation or liability acquired, accrued or incurred by the new Committee.