Section 13
Provident and other funds. Repealed
The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act, 1977
About this Act
An Act to provide for, in the public interest, the acquisition and transfer of the right, title and interest of the undertakings of Messrs. Smith, Stanistreet and Company Limited, Calcutta and for matters connected therewith or incidental thereto.
(1) Where the Company has established a provident,
superannuation, welfare or other fund for the benefit of the persons employed in the undertakings of the
Company, the monies relatable to the employees, whose services have become transferred by or under
this Act to the Central Government or 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 shall vest in, the Central Government or the Government company, as the case may be.
(2) The monies which stand transferred 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 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.