Section 4 in The Bombay Village Industries Board (Reconstitution) Order, 1959.
4. Transfer of assets and apportionment of Fund of existing Corporation.
(1)Subject to the other provisions of this Order, all land and all machinery, stores, articles and other goods belonging to the existing Corporation shall, as from the appointed day,-(a)if situated within the Karnataka area, pass to the Mysore Corporation;(b)if situated within the Abu area, pass to the Rajasthan Board; and(c)in any other case, continue to vest in tire existing Corporation.Explanation. - In this sub-paragraph, the expression "land" includes immovable property of every kind and any rights in or over such property,(2)The balance standing to the credit of the Fund of the existing Corporation on the appointed day, shall be apportioned amongst the existing Corporation, the Mysore Corporation and the Rajasthan Board in such proportion as may be agreed upon by the State Governments of Bombay, Mysore and Rajasthan, or failing such agreement, in such proportion as may be decided by the Central Government.
