As from the appointed day—
         (a) the Financial Corporations constituted under the State Financial Corporations Act, 1951 (63 of 1951), for the States of Bihar and Uttar Pradesh, and
         (b) the State Electricity Boards constituted under the Electricity (Supply) Act, 1948 (54 of 1948), for the said States,
shall be deemed to have been constituted for those States with their areas as altered by the provisions of section 3.