Section 14
Provident fund and other funds.
About this Act
An Act to provide for the acquisition and transfer of the right, title and interest of the undertakings of Britannia Engineering Company in relation to the Mokameh unit owned by it and the right, title and interest of Arthur Butler and Company in relation to the undertakings owned by it, with a view to ensuring the continued manufacture of railway wagons and other goods essential to the needs of the country in general and the Railways in particular, and for matters connected therewith or incidental thereto.
(1) Where Britannia Engineering Company or Arthur Butler
and Company has established a provident fund, superannuation fund, welfare fund or other fund for the
benefit of persons employed in the Mokameh unit or, as the case may be, any of the undertakings owned
by Arthur Butler and Company, the monies relatable to the employees, whose services have become
transferred by or under this Act to the Central Government or the 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 funds, stand transferred to, and 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 Government company, as the case may be, shall be dealt with by that Government or the Government company in such manner as may be prescribed.
(2) The monies 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 the Government company in such manner as may be prescribed.