Section 5(3) in The Punjab Khadi and Village Industries Board Act, 1955
(3)[ On the Board ceasing to exist, either by afflux of time or by dissolution by the Government, as provided in sub-section (1) any committee appointed under section 11 shall cease to function and -(i)all funds and other properties, which immediately before the Board ceased to exist were in its possession for the purposes of this Act, shall vest in the Government;(ii)all members shall vacate office as members of the board; and(iii)all rights, obligations and liabilities (including any liabilities under any contract) of the Board shall become the rights, obligations and liabilities of the Government.][5A. Chairman, [Chairman and Chief Executive] [Inserted by Haryana Act 25 of 1979.], Secretary, Joint Secretary and other members to hold office during pleasure of Governor. - Notwithstanding anything contained in Section 5 or any other provision of this Act, the Chairman, [Chairman and Chief Executive] [Substituted for the word 'Vice-Chairman' by Haryana Act 22 of 1980.], Secretary, Joint Secretary and other members of the Board shall hold office during the pleasure of the Governor.] [Substituted for sub-section (3) by Haryana Act 20 of 1972.]
