(1) On the date of establishment of the State Council, that State Council shall take over and employ such of the existing staff of the Maharashtra State Bureau of Examinations (hereinafter in this Act, referred to as "the Bureau") except the officers belonging to the Maharashtra Education Service, Group A and Group B (Administration Branch) serving for the purposes of the Bureau, as the Government may direct and every person so taken over and employed shall be subject to the provisions of this Act and regulations made thereunder:
Provided that, the conditions of service applicable immediately before coming into force of this Act in the case of any such employee shall not be varied to his disadvantage, except with the previous approval of the Government:
Provided further that, any service rendered by such employee under the Government shall be deemed to be in service under the State Council.
(2) Nothing in sub-section (1) shall apply to any existing staff of the Bureau who by notice in writing given to the Government on the date of coming into force of this Act or such later date as may be determined by the Government, intimates his option not to become or continue as an employee of the State Council; and thereupon he shall be permitted to retire from the Government service and shall be entitled to all such terminal benefits as compensation, pension, gratuity or the like, as may be determined by the Government (such terminal benefits shall not be less favourable than the benefits he would have been entitled to, had his service under the Government ceased on the coming into force of this Act):
Provided that any service rendered by such employee under the Bureau shall be deemed to be the service under the State Council.
(3) All expenditure which the Bureau may have incurred before the appointed day, in connection with any of the purposes of this Act shall be deemed to have been advanced towards capital expenditure by the Government to the State Council on that day under section 27, and all assets acquired by such expenditure shall vest into the State Council.
(4) All property, movable or immovable and all rights and interest of whatsoever kind, and powers and privileges and present activities of the Bureau shall stand transferred and shall vest in the State Council and be applied to the objects and purposes for which State Council is constituted.
(5) All obligations incurred, all contracts entered into and all matters and things engaged to be done, before the first constitution of the State Council by, with or for the State Government or the Bureau for any of the purposes of this Act, in respect of any scheme shall be deemed to have been incurred, entered into or engaged to be done by, with or for the State Council and accordingly all suits or legal proceedings instituted or which might have been instituted by or against the Government or the Bureau, as the case may be, continued or instituted by or against the State Council.