- When the Corporation is dissolved under section 520D, the following consequences shall ensue, namely:-

(a) all Councillors of the Corporation shall, as from the date, specified in the order of dissolution, vacate their offices as such Councillors;

(b) all the powers and functions vesting in or exercisable by the Corporation, [* * *] [The words 'the Mayor-in-Council' deleted by Maharashtra 27 of 1999, Section 202, (w.e.f. 23-4-1999).], the Mayor, the various Committees and the Councillors, under this Act or any other law for the time being in force shall vest in and be exercisable by such Government officer or officers, as the State Government, from time to time, appoints in this behalf, and such officer or officers shall receive such remuneration from the municipal fund as the State Government may, from time to time, determine;

(c) all property vested in the Corporation shall, during the period of dissolution, vest in the State Government.