In the event that a Board or any utility owned or controlled by the

Appropriate Government is sold or transferred in any manner to a person who is not owned or controlled by the Appropriate Government, the proceeds from such

sale or transfer shall be utilised in priority to all other dues in the following order,

namely :-

1. (a) dues (including retirement benefits due) to the officers and employees of such Board or utility, who have been affected by the aforesaid sale or transfer;
2. (b) payment of debt or other liabilities of the transferor as may be required by the existing loan covenants. Provisions relating to officers and employees.

133. (1) The State Government may, by a transfer scheme, provide for the

transfer of the officers and employees to the transferee on the vesting of properties,

rights and liabilities in such transferee as provided under section 131.

1. (2) Upon such transfer under the transfer scheme, the personnel shall

hold office or service under the transferee on such terms and conditions as may be

determined in accordance with the transfer scheme:

Provided that such terms and conditions on the transfer shall not in any way be less favourable than those which would have been applicable to them if

there had been no such transfer under the transfer scheme:

Provided further that the transfer can be provisional for a stipulated period.

Explanation: - For the purposes of this section and the transfer scheme, the

Payment of compensation or damages on transfer.