Amendment status not verified — confirm the current text below against the official source.
(1) Where the Company has established a provident fund or superannuation, welfare or other fund for the benefit of the persons employed in the undertakings of the Company, the moneys relatable to the employees, whose services have become transferred by or under this Act to the State Government or the existing, or new, Government company, as the case may be, shall, out of the moneys standing, on the appointed day, to the credit of such provident fund or superannuation, welfare or other fund, stand transferred to, and vest in, the State Government or the existing, or new, Government company, as the case may be. (2) The moneys which stand transferred under sub-section (1) to the State Government or the existing, or new, Government company, as the case maybe, shall be dealt with by that Government or the existing, or new, Government company in such manner as may be prescribed. 14 of 1947. 220 The Krishna Silicate and Glass Works Limited (Acquisition and Transfer of Undertakings) Act, 1986. XXXI of 1986.] (Chapter V1.—Commissioner of Payments.—Sections 15, 16.) CHAPTER VI Commissioner of Payments