(1) Where the Company has established a provident fund, superannuation, welfare or other fund for the benefit of the persons employed in a textile undertaking, the moneys relatable to the officers and other employees whose services have been transferred by or under this Ordinance to the National Textile Corporation shall, out of the moneys standing, on the appointed day, to the credit of such provident fund, superannuation, welfare' or other fund, stand transferred to, and vest in, the National Textile Corporation.
(2) The moneys which stand transferred under sub-section (1) to the National Textile Corporation, shall be dealt with by that Corporation in such manner as may be prescribed.
14. Where any textile undertaking or any part thereof is transferred under this Ordinance to a Subsidiary Textile Corporation, every person referred to in section 12 shall, on and from the date of such transfer, become an employee of the Subsidiary Textile Corporation, and the provisions of sections 12 and 13 shall apply to such employee of the Duty of persons in charge of manage.
ment of the textile undertakings to deliver all assets, etc.
Continuance of employees of the textile undertakings.
Provident and other funds.
Transfer of employees to a Subsidiary Textile 14 of 1947 Corporation.
THE GAZETTE OF INDIA EXTRAORDINARY [PART II— National Textile Corporation as if references in the said sections to the National Textile Corporation were references to the Subsidiary Textile Corporation.
Appointment of Commissioner of Payments.
Payment by the Central Government to the Commissioner Certain powers of the National Textile Corporation-
CHAPTER VI COMMISSIONER OF PAYMENTS