Section 26(5) in Gujarat Panchayats (Amendment) Act, 1962
(5)When a panchayat has been dissolved and reconstituted or established under the provisions of sub-section (1), so much of the fund and other property of the panchayat which has been dissolved shall vest in, and such portion of the debts and obligations shall be transferred to, the panchayat reconstituted or established under sub-section (1) as the State Government, may, by order in writing direct.
