Section 7 in The Degloor Market Committee (Reconstitution and Reorganisation) Order, 1960.
7. Residuary provisions.
- The benefit or burden of any assets or liabilities of the existing Corporation not dealt with in the foregoing provisions shall-(a)if the assets are situate, or the liability arises, in the Madnoor area pass to the new Corporation;(b)in any other case, continue to be the benefit or burden of the existing Corporation:Provided that the initial allocation of the benefit or burden under this paragraph shall be subject to such financial or other adjustment as may be agreed upon between the Corporations concerned or, in default of such agreement, as the Central Government may direct.
