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25

Dissolution of foundation and transfer of its assets and liabilities

Act: Baluchistan Health Foundation Act 1994

Section Provisions

ACT I OF 1994 ACT I OF 1994 BALOCHISTAN HEALTH FOUNDATION ACT, 1994 CHAPTER VII MISCELLANEOUS 25. Dissolution of Foundation and transfer of Its assets and liabilities.‑ Government may, by notification in the official Gazette declare that the Foundation shall be dissolved on such date as may be specified in such notification, and the Foundation shall stand dissolved accordingly. (2) On and from the said date‑‑ , (a)(i) all properties, funds and dues placed at the disposal of the Foundation by Government; and (ii) all properties, funds and dues exchanged, derived from, or otherwise attributable to the properties, funds and dues referred to in sub clause (1), which immediately before the said date were held by or were realisable by the Foundation, shall vest in, and be realisable by the Government; (b) all properties, funds, and dues, other than those referred to in clause (a), which immediately before the said date, the Foundation shall vest in and be realisable by the Government may determine, and its decision thereon shall be final; (c) all liabilities which immediately before the said date, were enforceable against the Foundation shall be assumed by and be enforceable against the Government or such agency as the Government determines under clause (b) as the case may be; (d) for the purpose of completing the execution of any scheme which has not been fully executed by the Foundation and of realising properties, funds and dues re‑referred to in clauses (a) and (b) as the case may be; and (e) the agency referred in clauses (b), (c), shall keep such accounts of all moneys, respectively received and expended by it under this Act as the'' Government may prescribe.