(5)All debts and obligations incurred, all contracts entered into, all matters and things engaged to be done by, with or for the Development Committee in exercise of its duties and powers before the commencement of the Gauhati University (Amendment) Act, 1960 shall upon such commencement be deemed to have been incurred, entered into or engaged to be done by, with or for the University ; and all suits or other legal proceedings instituted or which might but for the dissolution of the Development Committee have been instituted by or against the Development Committee, may be continued or instituted by or against the University.
