Lawgist42Application of Part
(1) The provisions of this Part shall apply in relation to the apportionment of the assets and liabilities of the existing State of Uttar Pradesh immediately before the appointed day.
(2) The successor States shall be entitled to receive benefits arising out of the decisions taken by the predecessor State and the successor States shall be liable to bear the financial liabilities arising out of the decisions taken by the existing State of Uttar Pradesh.
(3) The apportionment of assets and liabilities would be subject to such financial adjustment as may be necessary to secure just, reasonable and equitable apportionment of the assets and liabilities amongst the successor States.
(4) Any dispute regarding the amount of financial assets and liabilities shall be settled through mutual agreement, failing which by order by the Central Government on the advice of the Comptroller and Auditor-General of India.
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- 42 Application of Part
- 43 Land and goods
- 44 Treasury and bank balances
- 45 Arrears of taxes
- 46 Right to recover loans and advances
- 47 Investments and credits in certain funds
- 48 Assets and liabilities of State undertakings
- 49 Public Debt
- 50 Floating Debt
- 51 Refund of taxes collected in excess
- 52 Deposits, etc
- 53 Provident fund
- 54 Pensions
- 55 Contracts
- 56 Liability in respect of actionable wrong
- 57 Liability as guarantor
- 58 Items in suspense
- 59 Residuary provision
- 60 Apportionment of assets or liabilities by agreement
- 61 Power of Central Government to order allocation or adjustment in certain cases
- 62 Certain expenditure to be charged on Consolidated Fund
