(1) The Hospital shall be deemed to have been transferred to the State of West Bengal and to have been vested in the State of West Bengal, as from the 1st day of July, 1949.
(2) All contracts, debts and liabilities of or as respects the Hospital shall be deemed to have been transferred to the State of West Bengal, as from the 1st day of July, 1949.
(3) The Hospital shall be run by the State of West Bengal as a State Hospital.
(4) Persons employed in the Hospital and continuing in office immediately before the 1st day of July, 1949, shall, as from that date, be deemed to be employees of the State Government of West Bengal, and the terms and conditions of their service shall be such as may be determined by that Government :
Provided that any such person may at his option, to be exercised within such time and in such manner as that Government may specify by notification, continue to remain under the terms and conditions of service in force immediately before such date.
4. The Governing Body of the Society are hereby empowered, after the liabilities which are outstanding immediately before the commencement of this Act have been paid, to divide the cash assets including securities, of the Countess of Duff erin Fund, Bengal Branch, into two parts, one part, being three-fourths of the whole of such cash assets including securities (hereinafter referred to as the First Part of the Assets) to be utilized in West Bengal and the other part, being one-fourth of such cash assets including securities (hereinafter referred to as the Second Part of the Assets) to be dealt with in the manner specified in section 6.
The Lady Thifferin. Victoria ienana Hospital Act, 1955. 3 :XVI of 1955.]
(Sections 5, 6.)