(4) Nothing in the preceding provisions of this section shall be construed as preventing the Government of the State of Bihar, or, as the case may be, the Government of the State of Jharkhand from constituting, at any time on or after the appointed day, State Electricity Board or a State Warehousing Corporation or a Road Transport Corporation for the State under the provisions of the Act relating to such Board or Corporation; and if such a Board or Corporation is so constituted in either of the States efore the dissolution of the Board or the Corporation referred to in sub- section (1),-
(a) provision may be made by order of the Central Government enabling the new Board or the new Corporation to take over from the existing Board or Corporation all or any of its undertakings, assets, rights and liabilities in that State, and
(b) upon the dissolution of the existing Board or Corporation,-
(i) any assets, rights and liabilities which would otherwise have passed to that State by or under the provisions of sub- section (3) shall pass to the new Board or the new Corporation instead of to that State;
(ii) any employee who would otherwise have been transferred to or re- employed by that State under sub- section (3), read with clause (i) of sub- section (5), shall be transferred to or re- employed by the new Board or the new Corporation instead of to or by that State.