Section 15
Provident and other funds.
The Metal Corporation (Nationalisation and Miscellaneous Provisions) Act, 1976
About this Act
An Act to provide for the taking over of the management of the undertaking of the Metal Corporation, after such undertaking is deemed to have been transferred to, and re-vested in, the said Corporation, and for the subsequent acquisition of the undertaking of the Metal Corporation for the purpose of enabling the Central Government, in the public interest, to exploit to the fullest extent possible, the zinc and lead deposits in and around Zawar area in the State of Rajasthan and to utilise those minerals in such manner as to subserve the common good, and for matters connected therewith or incidental thereto.
(1) Where the Metal Corporation has established a provident,
superannuation, welfare or other fund for the benefit of the persons employed in its undertaking, 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 Government company, shall, out of the monies standing, on the
appointed day, to the credit of such provident, superannuation, welfare or other fund, stand transferred to,
and vested 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 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 Government company in such manner as may be prescribed.