Transfer of provident fund, welfare fund, etc.

(1) Where the mills has established a provident fund, superannuation fund, welfare fund or any other fund for the benefit of the persons employed in the mills the money relatable to the officers or other employees, whose services have become transferred, by or under this Act to the Company shall, out of the money standing on the date of vesting specified under section 8 to the credit of such provident fund, superannuation fund, welfare fund or other fund, stand transferred to and vest in the Company.

(2) The money which stand transferred under sub-section (1) to the Company shall be dealt with by the Company in such manner as may be prescribed.