Section 33(5) in Punjab Regional and Town Planning and Development Act, 1995
(5)The benefit or burden of any assets and liabilities of the existing Special Urban Planning and Development Authority not dealt within the foregoing provisions of this section shall pass on to the successor Special Urban Planning and Development Authorities in the manner agreed upon, between them and in case no such agreement is reached within a period of one year from the date of exclusion of the area, the State Government shall be competent to determine the same at the request of either of the Successor Special Urban Planning and Development Authorities.
