Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act : PROVIDENT

Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act,1984

Act No : 55

Section : PROVIDENT FUND AND OTHER FUNDS

SECTION 14: PROVIDENT FUND AND OTHER FUNDS

(1) Where the Company has established a provident fund, superannuation fund, welfare fund or any other fund for the benefit of the persons, employed in any of the undertakings of the Company, the monies relatable to the officers or other employees, whose services have become transferred, by or under this Act to the Central Government or the existing, or new. 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 Central Government or the Government company, as the case may be.

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