Section 47
Apportionment of assets and liabilities.
About this Act
An Act to provide for the formation of the State of Andhra, the increasing of the area of the State of Mysore and the diminishing of the area of the State of Madras, and for matters connected therewith.
(1) Subject to the other provisions of this Part, the
assets and liabilities of the State of Madras immediately before the appointed day shall be apportioned
between that State and the States of Andhra and Mysore in accordance with the provisions contained
in the Seventh Schedule.
(2) Any dispute relating to, or arising out of, such apportionment shall be referred to the President whose decision shall be final.
(2) Any dispute relating to, or arising out of, such apportionment shall be referred to the President whose decision shall be final.