(2)When the whole area comprised in any municipality is withdrawn from the operation of this Act by a notification published under Section 5. Sub-section (2), this Act and all rues and bye-laws made orders, directions and notice issued and powers conferred there under, shall cease to apply thereto; and the balance of the municipal fund and all other property at the time of the issued of the notification vested in the Board shall be transferred to the State Government.
