Section 13
Provident fund and other funds. Repealed
The Transformer and Switchgear Limited (Acquisition and Transfer of Undertakings) Act, 1983
About this Act
An Act to provide for the acquisition and transfer of the undertakings of the Transformer and Switchgear Limited with a view to securing the better utilisation of the available infrastructure thereof and to modernise and augment the production of transformers, switchgears and other allied electrical equipments by the said undertakings so as to subserve the interests of the general public be ensuring the continued supply of the aforesaid articles which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.
(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 Andrew Yule, 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 vest in, the Central Government or Andrew Yule, as
the case may be.
(2) The monies which stand transferred under sub-section (1) to the Central Government or Andrew Yule, as the case may be, shall be dealt with by that Government or that company in such manner as may be prescribed.
(2) The monies which stand transferred under sub-section (1) to the Central Government or Andrew Yule, as the case may be, shall be dealt with by that Government or that company in such manner as may be prescribed.