(1) On and from the date of the constitution of the Council, the Rehabilitation Council shall stand dissolved and on such dissolution,--
(a) all properties and assets, movable and immovable, of, or belonging to, the Rehabilitation Council shall vest in the Council;
(b) all the rights and liabilities of the Rehabilitation Council shall be transferred to, and be the rights and liabilities of, the Council;
(c) without prejudice to the provisions of clause (b), all liabilities incurred, all contracts entered into and all matters and things engaged to be done by, with or for the Rehabilitation Council immediately before that date, for or in connection with the purposes of the said Rehabilitation Council shall be deemed to have been incurred, entered into, or engaged to be done by, with or for, the Council;
(d) all sums of money due to the Rehabilitation Council immediately before that date shall be deemed to be due to the Council;
(e) all suits and other legal proceedings instituted or which could have been instituted by or against the Rehabilitation Council immediately before that date may be continued or may be instituted by or against the Council; and
(f) every employee holding any office under the Rehabilitation Council immediately before that date shall hold his office in the Council by the same tenure and upon the same terms and conditions of service as respects remuneration, leave, provident fund, retirement and other terminal benefits as he would have held such office as if the Council had not been constituted and shall continue to do so as an employee of the Council or until the expiry of a period of six months from that date if such employee opts not to be the employee of the Council within such period.
(2) Notwithstanding anything contained in the Industrial Disputes Act, 1947 (14 of 1947) or any other law for the time being in force, absorption of any employee by the Council in its regular service under this section shall not entitle such employee to any compensation under that Act or other law and no such claim shall be entertained by any court, tribunal or other authority.
Explanation.--In this section, "Rehabilitation Council" means the Rehabilitation Council, a society formed and registered under the Societies Registration Act, 1860 (21 of 1860) and functioning as such immediately before the constitution of the Council.