(1)
All rights of every local authority in the suburbs shall, on the appointed date, vest in the corporation.
(2)
All sums due to any local authority in the suburbs whether on account of any tax or any other account shall be recoverable by the Commissioner and, for the purpose of such recovery, he shall be competent to take any measure or institute any proceeding which it would have been open to the authority or officer of such local authority to take or institute if the [Mumbai Municipal Corporation Act] [These words were substituted by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).] had not come into force and the suburbs had not been included in [Brihan Mumbai] [These words were substituted for the words 'Greater Bombay' by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).].
(3)
All debts and obligations incurred and all contracts made by or on behalf of any local authority in the suburbs immediately before the appointed date and subsisting on the said date shall be deemed to have been incurred and made by the Commissioner in exercise of the powers conferred on him by the [Mumbai Municipal Corporation Act] [These words were substituted by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).].
(4)
In respect of the rights, dues, debts and obligations of the District School Board of the Bombay Suburban District and the District Local Board of the Bombay Suburban District pertaining exclusively to the area subject to their respective authority which is not included in [Brihan Mumbai] [These words were substituted for the words 'Greater Bombay' by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).], this paragraph shall apply as if for the word "corporation " and the word "Commissioner " the words "District School Board of the Thana District or, as the case may be, the District Local Board of the Thana District " were substituted and as if the reference made to the [Mumbai Municipal Corporation Act] [These words were substituted by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).], had been a reference to the Bombay Primary Education Act, 1947, or as the case may be, the Bombay Local Boards Act, 1923.