( 1) Every person who has been, imme diately before the appomted day, employed m any undertaking of the Com pany shall bccomc,-
(a) on and fr~m the appomted day, an employee of the Government, and
(b) whei·e the undertakmgs of the Company are directed under sub-sectiOn (I) of ~ect10n 6 to vest m a Gov~rnment Company, an employee of the Government Company on and from the date of such vestmg, and shall hold office or service under the Government or' the Government Company, as the case may be, wtth the same rights and privileges as to pension, gra tuity and other matters as would have been admissible to htm if there had been no such vestmg and shall continue to do so unless and until his employ ment under the~Government or the Government Company, from as the case may be, is duly terminated or until his remuneration and other conditiOns of servtce arc duly altered by the Government or the Government Company, as the case may be.
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(2) Notwithstanding artytlung contained in the Industrial Disputes Act, 1947 (Central Act 14 of 1947), or m any other law for the ume bemg in force, the transfer of the services of any officer or other person employed in any undertaking of the Company to the Government or the Government Company shall not entitle such officer or other employee to any compensatiOn -... under this Act or unaer any other law for the ume bemg m force and no such claim shall be entertained by any court, tnbunal or other authonty.
13. Provident fund and other funds -( 1) Where the Company ha"s esta blished a provident fund, superannuation fund, welfaie fund or other fund for the benefit of the persons employed m any of its undertakmgs, the monies relatable to the officers or other employees whose services have become trans ferred by or_ under tills Act to the Government or the Government Company shall, out of the momes standmg on the appomted day, to the credit of such provtdent fund, superannuatiOn fund, welfare fund or other fund, stand transferred to, and shall vest in, the Government or the Government Company, as the case may be.
(2) The morues wh1ch stand transferred under sub-sectiOn ( 1) to the Government~r the Government Company, as the case may be, shall be d_alt with bY, the Government or- the Government Company tn such manner as may be prescribed.
CHAPTER VI COMMISSIONER OF PAYMENTS .
14. Appointment of Commzsszoner of Payments -( 1) The Government shall, for the purpose of d1sbursmg the amount payable under secuon 7, by not1M fication m the Gazette, appomt a Comm1~S10ner of Payments.
(2) The Government may appoint such other persons as they may think fit to assist the Commissioner m the· exercise of the powers conferred on the Commissioner under thts Act. '
(3) The salaries and allowances of the Commissionet· and other persons appointed under thts secuon shall be defrayed out of the Consoli dated Fund of the State of Kerala.