Amendment status not verified — confirm the current text below against the official source.
Provident, superannuation and other like funds.—(1) Where a local authority referred to in sub-section (1) of section 18, has established a provident fund or superannuation fund or any other like fund for the benefit of the employees of such local 11 authority, the money standing to the credit of any such fund on the appointed day together with any other assets belonging to such fund, shall in so far as they relate to employees of the local authority who become employees of the State Government under section 21, stand transferred to and vest in the State Government on the appointed day. (2) The apportionment under sub-section (1) shall be made by the State Government, and its decision in this behalf shall be final and binding on the local authority.