(1)On the election of the Chairman following a general election or on the office of the Chairman otherwise falling vacant, the Chairman holding office for the time being or the Vice-Chairman or any other authority, or any other member, exercising the powers, performing the functions, and discharging the duties, of the Chairman shall make over the cash, assets, documents, registers and seals which he may have in his possession, custody or control as soon thereafter as possible on such date, place and hour as may be fixed by the District Magistrate or any other Executive Magistrate authorized by the District Magistrate in this behalf to the newly elected Chairman or, in the case of a vacancy occurring otherwise, to the Vice-Chairman or to the Chairman appointed under the provisions of sub-section (2), or sub-section (4), of section 17 or to such person or persons appointed under the provisions of sub-section (3) of section 431 or section 431A in the presence of the District Magistrate or any other Executive Magistrate authorized by the District Magistrate in this behalf.] [Added by the West Bengal Act 32 of 1997, w.e.f 15.3.1998.][Provided that in case the Chairman holding office for the time being. or the Vice-Chairman, or any other authority, or any other member, exercising the powers, performing the functions, and discharging the duties of the Chairman fails to make over all cash, assets, documents, registers and seals which he may have in his possession, custody or control, to the newly elected or appointed Chairman on the date, place and hour as may be fixed by the District Magistrate or any other Executive Magistrate authorized by the District Magistrate in this behalf, the newly elected or appointed Chairman may assume charge, and shall, in the presence 'of the District Magistrate or any other Executive Magistrate authorized by the District Magistrate in this behalf, prepare an inventory of all cash, assets, documents, registers and seals, which he received from the municipal office, and shall send a copy of such inventory to the Director of Local Bodies as well as to the State Government.] [Proviso added by section 5 of the W.B. Municipal (Amendment) Act, 2006, (West Bengal Act 22 of 2006), w.e.f. 1.10.2006.]
