(1) Notwithstanding anything contained in section 7, the Government may direct the Managing Director of the ENCOS and any other officer or employee employed in connection with the affairs of the undertaking of any of the societies immediately before the appointed day to furnish to the Government within one month from the appointed day or such further period as the Government may allow in this behalf, a complete inventory of all the properties and assets of the societies on the appointed day, all the liabilities and obligations of the societies subsisting on that day and also all agreements entered into by the societies and in force on that day (including agreements, whether express or implied, relating to leave, pension, gratuity and other terms of service of officers or other employees of the societies) under which, by virtue of this Act, the Government have or will have or may have liabilities or obligations.
(2) The Managing Director of the ENCOS and the officers and employees required to furnish the inventory under sub-section (1) shall, for the period referred to in that sub-section, be entitled to the same salaries and allowances and be subject to the same conditions of service as they were entitled or subject to immediately before the appointed day.