(1) Where the State Government is satisfied that the purposes for which the Council was established under this Act have been substantially achieved or is of the opinion that the Council is not being able to achieve the objectives for which it was established, so as to render the continued existence of the Council in the opinion of the State Government unnecessary, the State Government may by notification declare that the Council shall be dissolved with effect from such date as may be specified in the notification ; and the Council shall be deemed to be dissolved accordingly.
(2) From the said date, —
(a) all properties, funds and dues which are vested in, or realizable by the Council shall vest in or be realizable by, the State Government ;
(b) all liabilities which are enforceable against the Council shall be enforceable against the State Government.