(7) Where a provident, superannuation, welfare or other fund has been established by Caltex (India) for the benefit of the persons employed by it in connection with its undertakings in India, the moneys relatable to the employees—
(i) whose services are transferred by or under this Ordinance to the Central Government-or the successor Government company, or
(ii) who are in receipt of pension or other pensionary benefits immediately before the appointed day, Provident, superannuation, we'fare fund, etc.
shall, out of the moneys standing, on that day, to the credit of such provident, superannuation, welfare or other fund stand transferred to, and vested in, the Central Government or the successor Government company, as the case may be, free from any trust that may have been constituted by Caltex (India) in respect thereof.
(2) The moneys which stand transferred, under sub-section (1), to the Central Government or the successor Government company shall be dealt with by the Central Government or that company, as the case may be, in such manner as may be prescribed.
(3) The successor Government company shall, as soon as may be after the undertakings of Caltex (India) in India become vested in it, constitute, in respect of the moneys and other assets which are transferred to, and vested in, it under this section, one or more trusts having objects as similar to the objects of the existing trusts, as in the circumstances may be practicable, so, however, that the rights and interests of the beneficiaries of the trust referred to in sub-section (1) are not, in any way, prejudiced or diminished.
(4) Where all the moneys and other assets belonging to an existing trust are transferred to, and vested in, the Central Government or the 1528 THE G-VZETTE OF INDIA EXTRAORDINARY [PART II— successor Government company under this section, the trustees of such trust shall, as from the date of such vesting, stand discharged from the trust except as respects things done or omVtted to be done before the date of such vesting.
CHAPTER VI MISCELLANEOUS
13. The provisions of this Ordinance shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law other than this Ordinance or in any decree or order of any court, tribunal or other authority.
Effect of Ordinance on other laws.