Section 11. Assets and liabilities

11. Assets and liabilities.— (1) All land and all stores, articles and other goods in the transferred territory belonging to the State of Mysore shall, as from the appointed day, pass to the State of Andhra Pradesh. — Explanation. In this sub-section, the expression "land" includes immovable property of every kind and any rights in or over such property and the expression "goods" does not include coins, bank notes and currency notes. (2) All rights, liabilities and obligations, whether arising out of a contract or otherwise, of the State of Mysore in relation to the transferred territory shall, as from the appointed day, be the rights, liabilities and obligations, respectively, of the State of Andhra Pradesh. — — 12. State Financial Corporations and State Electricity Boards. As from the appointed day, (a) the Financial Corporations constituted under the State Financial Corporations Act, 1951 (63 of 1951), for the States of Mysore and Andhra Pradesh, and (b) the State Electricity Boards constituted under the Electricity Act, 1948 (54 of 1948), for the said States. (Supply) shall be deemed to have been constituted for those States with their areas as altered by the provisions of section 3.