385E. Consequences of abolition or alteration of an industrial township.
(1)When the whole of an industrial township is constituted to be a municipal area, the industrial township shall cease to exist and the properties, funds and other assets vested in the Industrial Township Authority and all the rights and liabilities of the Industrial Township Authority shall vest in, and shall devolve on, the Municipality.(2)When a part of an industrial township is constituted to be, or is included in, a municipal area, such part shall be deemed to have been excluded from such industrial township, and so much of the properties, funds and other assets vested in, and such of 'the rights and liabilities of, the Industrial Township Authority, as may be allocated by the State Government by order in this behalf, shall vest in, and shall devolve on, the Municipality.
