(1) Whenever in the opinion of the State Government the continued. existence of any Authority constituted under this Act is unnecessary or undesirable, the State Government may, by notification; declare that such Au- thority shall be dissolved from such date as may be specified therein and the Authority shall stand dissolved accordingly."
(2) As from the said date-
(a) all properties, funds and dues which are vested in or realisable by the Authority, shall vest, in, or be realisable by, the State Government;
(b) all liabilities which are enforceable against the Authority shall be enforceable against the State Government;
(c) for the purpose of realising properties, funds and dues referred to in clause (a), the function of the Authority shall be discharged by the State Government;
(d) all powers and functions to be exercised or discharged by the Authority under this Act or the rules framed thereunder shall be exercised or discharged by sucli person in the prescribed manner as may be appointed or designated by the State Government in this behalf.