(2)When a part of a notified area is constituted to be, or is included in, a municipal area, such part shall be deemed to have been excluded from such notified area, and so much of the properties, funds and other assets vested in, and such of the rights and liabilities of, the Notified Area Authority, as may be allocated by the State Government by order in this behalf, shall vest in, and shall devolve on, the Municipality.
