( l) The State Government tray from time to time make subvention to the Board for the purposes of this Act on such terms and conditions as the State Government :may determine.
(2) The State Government may from time to time advance loans to the Board on such terms and conditions not inconsistent with the provisions of this Act as the State *Government may determine.
60. The State Government may, with prior consultation With the Board, at any time, declare that any expenditure incurred by it and any proceeding initiated by it, either before or after the constitution of the Board, shall be expenditure incurred or proceedings initiated, on behalf of the Board and upon such declaration amount equivalent to such L‘Kf'kzaltiiiiui'c shatl be dee ..ed to have been given by the Government to the Board as loan With cited: from such date as the State Government may appoint, provided that the State Government may give such amount as grant to the Board instead of as loan.
(2) On a declaration being made under sub-section (a) above, such assets and liabilities as may have been created or as may have accrued as a result of the expenditure in respect of which a declaration have been made under sub-section {4), shall vest in the Board.