(1) The State Government may, at any time, with the previous approval or the [State Legislative Assembly] by notification in the [Official Gazette] make a declaration that with effect from such date as may be specified in the notification, the Board shall be dissolved.
[(2) On the Board ceasing to exist by dissolution by the State Government under sub-section (1)-
(a) the executive committee and all other committees of the Board shall cease to function;
(b) all members of the Board and of the executive committee and other committees of the Board shall vacate office as such members;
(c) all properties and funds, which immediately before the said date vested in or were in possession of the Board for the purposes of this Act, shall vest in the State Government;
(d) all legal rights, obligations and liabilities (including the liabilities under any contract) of the Board shall become the rights, obligations and liabilities of the State Government; and
(e) all legal acts and proceedings of the Board shall, unless set aside, modified or in any way amended by the State Government, continue to have effect as if the Board were not dissolved.]