Section 126(1) in Uttar Pradesh Municipal Corporation Act, 1959
(1)As from the appointed day [and subject to any direction of the State Government in this behalf] [Inserted by 5.6 of U.P. Act 14 of 1959.](a)all property, interests in property and assets including cash balances, wherever situate which immediately before such day were vested in any [Municipal Council] [Substituted by U.P. Act 12 of 1994 (w.e.f. 30-05-1994).], Improvement Trust or other local authority established for the area included in the City or any part of such area or in any local authority having jurisdiction both within and outside such area shall, [* * *] [The words 'unless otherwise directed by the State Government' deleted by U.P. Act 12 of 1994 (w.e.f. 30-05-1994).] vest in and be held by the Corporation of such City, for the purposes of this Act, and(b)all rights, liabilities and obligations of the aforesaid [Municipal Council] [Substituted by U.P. Act 12 of 1994 (w.e.f. 30-05-1994).], Improvement Trust or other local authority [in relation to the area included in the City] [Inserted by U.P. Act 12 of 1994, S. 6(iii) (w.e.f. 30-05-1994).]. whether arising out of any contract or otherwise, existing immediately before such day shall be the rights, liabilities and obligations of such Corporation.
