Chapter V PROVISIONS RELATING TO THE EMPLOYEES OF THE UNDERTAKING

Continuance of employees.—(1) Every employee of the club employed in connection with the undertaking shall become, on and from the appointed day, an employee of the Government and where such undertaking is vested in a Government company under this Act, become, on and from the date of such vesting in such Government company, an employee thereof and shall hold office or service under the Government or the Government company, as the case may be, with the same rights and privileges as to pension, gratuity and other matters as would have been admissible to him if there had been no such vesting and shall continue to do so unless and until his employment under the Government or the Government company, as the case may be, is terminated by him by giving notice of not less than one month in writing, or one month's salary and allowances in lieu of such notice, or until his remuneration and other conditions of service are altered by the Government or the Government company, as the case may be.

1. (2) Notwithstanding anything contained in the Industrial Disputes Act, 1947 (Central Act XIV of 1947), or in any other law for the time being in force, the transfer of the services of any officer or other person employed in the undertaking of the club to the Government or the Government company shall not entitle such officer or other employee to any compensation under this Act or any other law for the time being in force and no such claim shall be entertained by any court, tribunal or other authority.

Provident fund and other funds.-(1) Where the club has established a provident fund, superannuation fund, welfare fund or other fund for the benefit of the persons employed in its undertaking, the monies relatable to the employees whose services have been transferred by or under this Act to the Government or a Government company shall, out of the monies standing on the appointed day to the credit of such provident fund, superannuation fund, welfare fund or other fund, stand transferred to, and shall vest in, the Government or the Government company, as the case may be.

1. (2) The monies which stand transferred under sub-section
2. (1) to the Government or the Government company, as the case may be, shall be dealt with by the Government or the Government company in such manner as may be prescribed.