Amendment status not verified — confirm the current text below against the official source.
shall stand transferred to the State Government and shall remain under the control and manage- ment of the State Government; (2) all deeds of gift, endowment, bequest, trust or other- wise covering all properties and assets referred to in sub-clause (c) of clause (1) shall be construed as if they were executed in favour of the State Government; (3) all contracts, debts and liabilities of the institution shall be deemed to be contracts, debts and liabili- ties of the State Government; (4) the institution shall be run by the State Government as a State institution; (5) persons employed in the institution and continuing in office immediately before the appointed day, shall, subject to such terms and conditions, not being less advantageous than what they were entitled to immediately before the appointed day, as may be determined by the State Government in consulta- tion with the Committee, be deemed to be em- ployees of the State Government.