Section 14
Provident fund and other funds.
The Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act, 1982
About this Act
An Act to provide for the acquisition and transfer of the undertakings of the Andhra Scientific Company Limited, with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continuity of production of scientific instruments which are vital to the needs of the country and for matters connected therewith or incidental thereto.
(1) Where the Company has established a provident fund,
superannuation, welfare or other fund for the benefit of the persons employed in any of its undertakings,
the moneys relatable to the officers or other employees whose services have become transferred by or
under this Act to the Central Government or the Government company, shall, out of the moneys standing,
on the appointed day, to the credit of such provident fund, superannuation, welfare or other fund, stand
transferred to, and vest in, the Central Government or the Government company, as the case may be.
(2)The moneys which stand transferred under sub-section (1) to the Central Government or the Government company, as the case may be, shall be dealt with by that Government or Government company in such manner as may be prescribed.
(2)The moneys which stand transferred under sub-section (1) to the Central Government or the Government company, as the case may be, shall be dealt with by that Government or Government company in such manner as may be prescribed.