If a corporation is dissolved according to section 14, all the rights and liabilities of the dissolved corporation shall be transferred to the Government of Nepal. Any corporation formed in accordance with this Act may be assigned with the approval of that institution or corporation and if it is so entrusted, the contract and agreement with the dissolved corporation shall be deemed to be with the devolved corporation and the liability of the dissolved corporation shall be deemed to be with the delegated organization or corporation and the provisions of the Nepalese law relating to the corporation or corporation shall be applicable.< /p>