(1) Where the Society has established a provident, superannuation, welfare or any other fund for the benefit of its officers or other employees and constituted a trust in respect thereof, the moneys relatable to the officers or other employees, whose services have become transferred, by or under this Act to the Government or the Company, shall, out of the moneys standing on the appointed day, to the credit of such provident, superannuation, welfare or other fund, stand transferred to, and vested in, the Government or the Company, as the case may be, free from any such trust.
(2) The moneys which stand transferred under sub-section (1) to the Government or the Company shall be dealt with by the Government or the Company, as the case may be, in such manner as may be prescribed.