Alcock Ashdown Company Limited (Acquisition of Undertakings Act : Transfer of provident fund and other

Alcock Ashdown Company Limited (Acquisition of Undertakings Act,1973

Act No : 56

Section : Transfer of provident fund and other fund when undertakings vest undersection 8A.

8D. Transfer of provident fund and other fund when undertakings vest under section 8A. (1) Where a provident fund, superannuation fund, welfare fund or any other fund has been established for the benefit of the persons employed in the Bhavnagar unit, the monies relatable to the officers or other employees, whose services have become transferred by or under this Act to the State Government shall stand transferred to, and vest in, the State Government. (2) The monies which stand transferred under sub-section (1) to the State Government shall be dealt with by that Government for the benefit of the officers and employees so transferred in such manner as the State Government may decide from time to time.