Provident fund and other funds

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.