(1) The permanent employees of the existing Board shall continue in the services of the Board and shall be subject to the provisions of this Act and the regulations made thereunder :
Provided that,-
(a) during the period of such employment all matters relating to the pay, leave, retirement, allowances, pension, provident fund and other conditions of service of the members of the said staff shall be regulated by the Maharashtra Civil Services Rules or such other rules as may, from time to time, be made by the Government ;
(b) any such member shall have right of appeal to the Government against the order of rejection, dismissal or removal from service, fine or any other punishment.
(2) The permanent employees of the existing Board shall be transferable under the respective cadre of the Directorate of Vocational Education and Training in any of its offices or institution where the vacancy exists.
(3) The employees appointed on contractual basis on the existing Board shall continue subject to the conditions as they were appointed.
(4) All expenditure which the existing Board may have incurred before the commencement of this Act in connection with any of the purposes of the existing Board, shall be deemed to be advance towards capital expenditure by the Government to the Board under section 41 on that date, and all assets acquired by such expenditure shall vest into the Board.