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Special provisions for transfer and posting of welfare fund mfabltshed by custom or agreement—A11 welfare funds established either by custom or agreement before the date of commencement of this Act and standing to the credit of the employees on such date M— m L_ _ _4 ‘4 145 shall, notwithstanding anything to the contrary contained in any law for the time being in force or in any deed or other instrument, stand transferred to, and vest in the Fund established under sec- tion 3 and shall be credited to the accounts of the employees entitled thereto in the Fund.