1. Section 1
Short title and commencement.—
(1) This Act may be called the Bilaspur Commercial Corporation (Repeal) Act, 1960.
(2) It shall come into force on such date1 as the Central Government may, by notification in the Official Gazette, appoint.
2. Section 2
Definitions.—In this Act, unless the context otherwise requires,—
(a) “appointed” day means the date on which this Act comes into force;
(b) “Corporation” means the Bilaspur Commercial Corporation established under sub-section
(1) of section 3 of the Bilaspur Commercial Corporation Act, 2005 (Bilaspur Act I of 2005 Bikrami) Bikrami.
3. Section 3
Repeal of Bilaspur Commercial Corporation Act, 2005 Bikrami and dissolution of Bilaspur Commercial Corporation.—On the appointed day, the Bilaspur Commercial Corporation Act, 2005 Bikarami shall stand repealed, and the Corporation shall stand dissolved.
4. Section 4
Consequential provisions.— On the dissolution of the Corporation,—
(a) all properties, funds and dues which are vested in, or ralisable by, the Corporation shall vest in, and be realisable by, the Central Government; and
(b) all liabilities which are enforceable against the Corporation shall be enforceable only against that Government. sec. 3(i).