Section 54 in The Andhra Pradesh Reorganisation Act, 2014

Title: Public Debt

Description: (1) All liabilities on account of Public Debt and Public Account of the existing State of Andhra Pradesh outstanding immediately before the appointed day shall be apportioned on the basis of population ratio of the successor States unless a different mode of apportionment is provided under the provisions of this Act. (2) The individual items of liabilities to be allocated to the successor States and the amount of contribution required to be made by one successor State to another shall be such as may be ordered by the Central Government on the advice of the Comptroller and Auditor-General of India: Provided that till such orders are issued, the liabilities on account of Public Debt and Public Account of the existing State of Andhra Pradesh shall continue to be the liabilities of the successor State of Andhra Pradesh. (3) The liability on account of loan raised from any source and re-lent by the existing State of Andhra Pradesh to such entities as may be specified by the Central Government and whose area of operation is confined to either of the successor States shall devolve on the respective States as specified in sub-section (4). (4) The public debt of the existing State of Andhra Pradesh attributable to loan taken from any source for the express purpose of re-lending the same to a specific institution and outstanding immediately before the appointed day shall,— (a) if re-lent to any local body, body corporate or other institution in any local area, be the debt of the State in which the local area is included on the appointed day; or (b) if re-lent to any other corporation or institution which becomes an inter- State corporation or institution on the appointed day, be divided between the States of Andhra Pradesh and Telangana in he same proportion in which the assets of such body corporate or institution are divided under the provisions of Part VII. (5) Where a sinking fund or a depreciation fund is maintained by the existing State of Andhra Pradesh for repayment of any loan raised by it, the securities held in respect of investments made from that fund shall be divided between the successor States of Andhra Pradesh and Telangana in the same proportion in which the total public debt is divided between the two States under this section. (6) In this section, the expression "Government security" means a security created and issued by a State Government for the purpose of raising a public loan and having any of the forms specified in, or prescribed under, clause (2) of section 2 of the Public Debt Act, 1944 (18 of 1944).

Title: Floating Debt.

Description: All liabilities of the existing State of Andhra Pradesh in respect of any floating loan to provide short term finance to any local body, body corporate or other institution, shall be determined on the following basis, namely:–– (a) if, the purposes of the floating loan are, on and from the appointed day, exclusive purposes of either of the successor States, then, of that State; (b) in any other case, it shall be divided on the basis of population ratio.

Title: Refund of taxes collected in excess.

Description: (1) The liability of the existing State of Andhra Pradesh to refund any tax or duty on property, including land revenue, collected in excess shall be the liability of the successor State in whose territories the property is situated, and the liability of the existing State of Andhra Pradesh to refund any other tax or duty collected in excess shall be apportioned between the Successor States of Andhra Pradesh and Telangana on the basis of population ratio and the State discharging the liability shall be entitled to receive from the other State its share of the liability, if any. (2) The liability of the existing State of Andhra Pradesh to refund any other tax or duty collected in excess on the appointed day shall be the liability of the successor State in whose territories the place of assessment of such tax or duty is included, and the liability of the existing State of Andhra Pradesh to refund any other tax or duty collected in excess shall be apportioned between the Successor States of Andhra Pradesh and Telangana on the basis of population ratio and the State discharging the liability shall be entitled to receive from the other State its share of the liability, if any.

Title: Deposits, etc

Description: (1) The liability of the existing State of Andhra Pradesh in respect of any civil deposit or local fund deposit shall, as from the appointed day, be the liability of the successor State in whose area the deposit has been made. (2) The liability of the existing State of Andhra Pradesh in respect of any charitable or other endowment shall, as from the appointed day, be the liability of the successor State in whose area the institution entitled to the benefit of the endowment is located or of the successor State to which the objects of the endowment, under the terms thereof, are confined: Provided that any civil deposits or loan funds or charitable or other endowment fund maintained by the existing State of Andhra Pradesh before the appointed day having jurisdiction over the entire State shall be apportioned between the successor States on the basis of population ratio.

Title: Provident Fund.

Description: The liability of the existing State of Andhra Pradesh in respect of the Provident Fund account of a Government servant in service on the appointed day shall, as from that day, be the liability of the successor State to which that Government servant is permanently allotted.

PART 6 APPORTIONMENT OF ASSETS AND LIABILITIES