121. Ultimate dissolution of Trust, and transfer of its assests and liabilities to [the Corporation.] [Substituted by M.P. Act No. XIV of 1952, section 19.]
(1)When all schemes sanctioned under this Act have been executed, or have been so far executed as to render the continuance of the Trust, in the opinion of the [State] [Substituted for 'Provincial' by A. O., 1950.] Government unnecessary, the [State] [Substituted for 'Provincial' by A. O., 1950.] Government may by notification declare that the Trust shall be dissolved from such date as may be specified in this behalf in such notification ; and the Trust 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 Trust shall vest in and be realizable by [the Corporation] [Substituted by M.P. Act No. XIV of 1952, section 19.] :Provided that, the [State] [Substituted for 'Provincial' by A. O., 1950.] Government may resume the management of any street, square, park, open space or other land, [***] [The words 'which was at the commencement of this Act the property of Government or has since been acquired by Government and was' were omitted by A. O., 1937.] vested in the trust under sub-section (1) of section 45 ; and(b)all liabilities which are enforceable against the Trust shall be enforceable only against [the Corporation] [Substituted by M.P. Act No. XIV of 1952, section 19.] ; and(c)for the purpose of completing the execution of any scheme, sanctioned under this Act, which has not been fully executed by the Trust, and of realizing properties, funds, and dues referred to in clause (a), the functions of the trust under this Act shall be discharged by [the Corporation] [Substituted by M.P. Act No. XIV of 1952, section 19.] respectively ; and(d)[the Corporation] [Substituted by M.P. Act No. XIV of 1952, section 19.] shall keep separate accounts of all moneys respectively received and expended by it under this Act, until all loans raised thereunder have been repaid, and until all other liabilities referred to in clause (b) have been duly met.
