36. Dissolution of the Board.

(a) the Board has, without reasonable cause or excuse, made default in the discharge of its duties, or in the performance of its functions, imposed or entrusted by or under this Act, or exceeded or abused its powers; or
(b) circumstances have so arisen that the Board is rendered unable, or may be rendered unable, to discharge its duties or perform its functions under this Act, or
(c) it is otherwise expedient or necessary to dissolve the Board;
(i) all funds and other properties vested in the Board shall vest in Government; and
(ii) all liabilities, legally subsisting and enforceable against the Board shall be enforceable against Government to the extent of the funds and properties vested in Government under clause (i).