The Punjab Reorganisation Act

Application of Part

Land and goods

Treasury and bank balances

Arrears of taxes

Right to recover loans and advances

Investments and credits in certain funds

Assets and liabilities of State undertakings

Public debt

Refund of taxes collected in excess

Deposits, etc

Provident fund

Pensions

Contracts

Liability in respect of actionable wrong

Liability as guarantor

Items in suspense

Residuary provision

Apportionment of assets or liabilities by agreement

Power of Central Government to order allocation or adjustment in certain cases

Certain expenditure to be charged on the Consolidated Fund


APPORTIONMENT OF ASSETS AND LIABILITIES


The benefit or burden of any assets or liabilities of the existing State of
Punjab not dealt with in the foregoing provisions of this Part shall pass to the State of Punjab in the first
instance, subject to such financial adjustment as may be agreed upon between all the successor States
before the 1st day of November, 1967, or in default of such agreement, as the Central Government may
by order direct.

LAWGIST

# 63 Residuary provision