(1) Where the State Government is satisfied that the purposes for which the Corporation was established under this Act have been substantially achieved so as to render the continued existence of the Corporation unnecessary, it may, by notification, declare that the Corporation shall be dissolved with effect from such date as may be specified in the notification, and the Corporation shall be deemed to be dissolved accordingly.
(2) From the said date—
(a) all properties, funds and dues which are vested in, or realisable by, the Corporation shall vest in, or be realisable by, the State Government;
(b) all liabilities which are enforceable against the Corporation shall be enforceable against the State Government.
55. Unless otherwise expressly provided, no Court shall take cognizance of any offence relating to property belonging to, or vested by or under this Act in, the Corporation, punishable under this Act, except on the complaint of, or upon information received from, the Corporation or any person authorised by the Corporation by general or special order in this behalf.
Defaults in performance of duty.
Dissolution of Corporation.
Authority for prosecution.
133 The West Bengal Industrial Infra-structure Development Corporation Act, 1974.
[West Ben. Act Composition of offences by Corporation.
Offences by companies.
Penalty for obstruction.
(Chapter VIZ—Supplementary and miscellaneous provisions.—Sections 56-58.)