Section 153(2) in The Orissa Town Planning and Improvement Trust Act, 1956
(2)On and from the said date -(a)(i)all properties, funds and dues placed at the disposal of the Planning authority by the State Government and all properties situated in an area to which the Orissa Municipal Act, XXIII of 1950, does not apply;(ii)all properties, funds and dues exchanged for, derived from, or otherwise attributable to the properties, funds and dues referred to in Sub-clause (i);which immediately before the said date were held by or realisable by the planning authority, shall vest in and be reasonable by the State Government;(b)all properties, funds and dues other than those referred to in Clause (a), which immediately before the said date, were vested in or were realisable by the Planning authority and the Chairman respectively shall vest in and be reasonable by the Municipality and the Chairman of the Municipality respectively;(c)if any question arises as to whether any properties, funds or dues vest in the State Government under Clause (a) or in the Municipality under Clause (b) the question shall be referred to the State Government whose decision thereon shall be final;(d)all liabilities which, immediately before the said date, were forceable against the Planning authority shall be enforceable against the State Government or the Municipality as the case may be. The State Government shall determine which of such liabilities shall be enforceable against it and which against the Municipality;(e)for the purpose of completing the execution of any scheme, sanctioned under this Act, which has not been fully executed by the Planning authority, and of realising properties, funds and dues referred to in Clause (a) and (b), the functions of the said authority and the Chairman under this Act shall be discharged by the State Government or by the Municipality, or the Chairman of the Municipality, as the case may be; and(f)the Municipality shall keep separate accounts of all moneys respectively received and expended by it under this Act, until all loans raised thereunder have been repaid and until all other liabilities referred to in Clause (d) have been duly met.
