Section 4 in The Bihar Intermediate Education Council (Repeal) Act, 2007
4. Assets and Liabilities.
- All the assets and properties of Bihar Intermediate Council whether movable or immovable including lands, buildings, stores, vehicles, books, cash balance, reserve fund, investments, furniture and others and all liabilities shall stand transferred to and vested on, and be deemed to have come in the possession of the Bihar School Examination Board. All the liabilities and obligations of the Council under any agreement or contract entered into bona fide before the commencement of this Act shall devolve and shall be deemed to have been devolved on the Bihar School Examination Board.
