Section 407(2) in The Punjab Municipal Corporation Act, 1976
(2)When a Municipal Corporation is dissolved under sub-section (1), -(i)all Councillors of the Corporation shall vacate their offices forthwith;(ii)all powers and duties of the Corporation during its dissolution shall be exercised and performed by such person or authority, as the Government may, by notification, appoint in this behalf ; and(iii)all property in possession of the Corporation shall be held by the Government.
