The duty of carrying out the provisions of this Act in any local area shall, subject to the conditions and limitations hereinafter contained, be vested in a board to be called "The (name of town) Improvement Trust" hereinafter referred to as "The Trust"; and every such board shall be a body corporate and have perpetual succession and common seal, and shall by the said name sue and be sued.
Section 3-A [3-A. New trusts. - Notwithstanding anything contained in this Act, if and when a new trust is created for a local area where a trust was dissolved under section 103 and the functions referred to in clause (c) of sub-section (2) of that section have not been duly discharged, -
(a) all properties, funds and dues vested in or realisable by the State Government under section 103 shall stand transferred to, vested in and realisable by the new trust;
(b) all liabilities enforceable against the State Government under section 103 or incurred by it under this Act shall be enforceable against the new trust;
and
(c) the new trust shall deal with any scheme sanctioned under this Act, which has not been fully executed by the officer appointed by the State Government under section 103, in accordance with the provisions of this Act as fully as if it had been sanctioned at the instance of the new trust.]4 Section 4