Section 501A(b) in Karnataka Municipal Corporations Act, 1976
(b)the unexpended balance of the fund of the local authority (including arrears of rates, taxes and fees) belonging to the local authority and all rights and powers which, prior to such notification, vested in the local authority shall, subject to all charges and liabilities affecting the same, vest in the corporation of the [larger urban area] [Substituted by Act 35 of 1994 w.e.f. 1.6.1994.] (hereinafter referred to as the corporation);
