Lawgist56Deposits, etc
(1) The liability of the existing State of Punjab in respect of any civil deposit or local fund deposit shall, on and from the appointed day, be the liability of the successor State in whose territories the deposit has been made:
Provided that if the deposit is made in any area outside the existing State, the liability shall be that of the State of Punjab in the first instance and shall be adjusted between the successor States according to the population ratio.
(2) The liability of the existing State of Punjab in respect of any charitable or other endowment shall, on and from the appointed day, be the liability of the successor State in whose territories the institution entitled to the benefit of the endowment is located or of the successor State to which the objects of the endowment, under the terms thereof, are confined.
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- 47 Application of Part
- 48 Land and goods
- 49 Treasury and bank balances
- 50 Arrears of taxes
- 51 Right to recover loans and advances
- 52 Investments and credits in certain funds
- 53 Assets and liabilities of State undertakings
- 54 Public debt
- 55 Refund of taxes collected in excess
- 56 Deposits, etc
- 57 Provident fund
- 58 Pensions
- 59 Contracts
- 60 Liability in respect of actionable wrong
- 61 Liability as guarantor
- 62 Items in suspense
- 63 Residuary provision
- 64 Apportionment of assets or liabilities by agreement
- 65 Power of Central Government to order allocation or adjustment in certain cases
- 66 Certain expenditure to be charged on the Consolidated Fund
