(1) With effect from the date of commencement of this Act, any college, transferred to any University established and incorporated under section 3 of this Act, together with attached hostels, other buildings constituent of such a college, the articles of furniture, libraries, book, laboratories, stores, instruments, apparatus, appliance and equipments shall be transferred to the concerned University, and the said College together with attached hostels and other constituent buildings, its furnitures, library books, laboratories, stores, instruments, apparatus and equipments shall be deemed to have been transferred to the maintenance and control of the concerned University as its own college.
(2) Anything contained in this Act shall not be so construed as to vest the University with the authority to sell, lease out, exchange, or otherwise dispose of any land or building transferred to the University under sub-section (1).
(3) Notwithstanding anything contained in this Act, when any college is transferred to the maintenance and control of the University by an order under section (1), the University shall-
(a) employ, such teachers and other servants of the State Government as were serving in or attached to the said College immediately before the commencement of this Act, on such conditions, as may be determined by the State Government;
(b) consider the claim, in consultation with the State Government, of employment in service, if such a claim is made for appointment against such vacancies in the University service by such teachers who are employed in other teaching institutions falling within or without the territorial jurisdiction of the University and are in Government service immediately preceding such transfer, and if the filling up of vacancies, by appointment or promotion of University teachers who are in Government Service immediately before such transfer results in supersession of the claims of teachers of the referred educational institutions.
(4) If at any time the State Government is satisfied that in the existing circumstances it has become necessary to take back any College transferred to the University under sub-section (1), then the State Government may, be an order published in the official Gazette, cancel the transfer of the said college and withdraw it from the maintenance and control of the University.