Provisions for existing staff of educational institutions

Notwithstanding anything to the contrary in any contract or agreement or any law for the time being in force the following provisions shall apply in regard to the persons on the staff of the educational institution immediately before the date on which the management of the educational institution is vested in the State Government, namely:-

(a) the State Government shall have power to terminate the services of any such person for reasons to be recorded in writing after giving him three calendar month's notice in writing or paying him three month's pay in lieu of such notice;

(b) a person whose services have been retained shall be governed at his option either by the conditions of service as may from time to time be prescribed or by the conditions of service applicable to him immediately before such vesting.