Section 68(2) in Punjab Water Supply and Sewerage Board Act, 1976
(2)From the said date -(a)all properties, funds and dues which are vested in or realisable by the Board shall vest in and by realisable by the Government;(b)all liabilities which are enforceable against the Board shall be enforceable only against the Government;(c)for the purpose of completing the execution of any scheme approved by Government under this Act, which has not been fully executed by the Board and of realising properties, funds and dues referred to in clause (a) the functions of the Board under this Act shall be discharged by the Government; and(d)the Government shall keep separate accounts of all moneys respectively received and expended by it under this Act, until all loans raised hereunder have been repaid, and until all other liabilities referred to in clause (b) have been duly met.
