Section 148(2) in Punjab Regional and Town Planning and Development Act, 1995
(2)On and with effect from the date of abolition the Punjab Housing Development Board under sub-section (1), -(a)the members including the Chairman of the Punjab Housing Development Board shall cease to hold office;(b)all properties, funds and dues which are vested in or realisable by the Punjab Housing Development Board shall vest in and be realisable by the Authority;(c)all liabilities which are enforceable against the Punjab Housing Development Board shall be enforceable against the Authority;
