52. Continuance of certain arrangements.—Where any arrangement in regard to the supply of
electric power or the supply of water for any area in the districts of Daman and Diu of the existing Union
territory or in regard to the execution of any project for such supply from an area included in the State of
Goa by the provisions of Part II exists, such arrangement will be continued, unless terminated by
agreement, between the State of Goa and the Union in accordance with such terms and conditions as
may be mutually agreed upon by the State Government of Goa and the Union within a period of one year
from the appointed day, and, where no such agreement is arrived at within such period, the Central
Government may give such directions as it deems fit to that State Government or the authority concerned
for the continuance, so far as is practicable, of the previous arrangement.
53. Provision as to co-operative banks.—Notwithstanding anything contained in section 22 of
the Banking Regulation Act, 1949 (10 of 1949), where by virtue of the provisions of Part II, a cooperative bank is newly formed on the appointed day or within three months thereof in the State of Goa or
the Union territory of Daman and Diu, it may commence and conduct banking business without obtaining
a licence under that section from the Reserve Bank of India, until it is granted such a licence or until it is
informed by the Reserve Bank of India that such a licence cannot be granted to it:
Provided that such bank applies to the Reserve Bank of India for such a licence within a period of
three months from the date of formation of the Bank.
54. General provisions as to statutory corporations.—(1) Where any body corporate constituted
under any Central Act, State Act or Provincial Act for the existing Union territory or any part thereof has,
by virtue of the provisions of Part II, become an inter-State body corporate, then, the body corporate shall,
on and from the appointed day, continue to function and operate in those areas in respect of which it was
functioning and operating immediately before that day, subject to such directions as may from time to
time be issued by the Central Government until other provision is made by law in respect of the said
body corporate.
14
(2) Any direction issued by the Central Government under sub-section (1) in respect of any such
body corporate may include a direction that any law by which the said body corporate is governed shall,
in its application to that body corporate, have effect, subject to such exceptions and modifications as may
be specified in the direction.
55. Temporary provisions as to continuance of certain existing road transport permits.—(1)
Notwithstanding anything contained in section 63 of the Motor Vehicles Act, 1939 (4 of 1939), a permit
granted in the existing Union territory shall, if such permit was immediately before the appointed day,
valid and effective in any area therein, be deemed to continue to be valid and effective in that area up to
the 31st day of March,1988, subject to the provisions of that Act as for the time being in force in that area
and it shall not be necessary for any such permit to be countersigned by any State or Regional Transport
Authority for the purpose of validating it for use in such area:
Provided that the Central Government may, after consultation with the State Government of Goa add
to, amend or vary the conditions attached to the permit by the authority by which the permit was granted.
(2) No toll, entrance fees or other charges of a like nature shall be levied for a period up to and
inclusive of the 31st day of March, 1988, in respect of any transport vehicle for its operations in either the
State of Goa or the Union territory of Daman and Diu under any such permit, if such vehicle was
immediately before that day exempt from the payment of any such toll, entrance fees or other charges for
its operations within the existing Union territory:
Provided that the Central Government may, after consultation with the State Government of Goa
authorise the levy of any such toll, entrance fees or other charges, as the case may be.
56. Special provision relating to retrenchment compensation in certain cases.—Where, by virtue
of the provisions of Part II, any body corporate constituted under a Central Act, State Act or Provincial
Act, any co-operative society registered under any law relating to cooperative societies or any commercial
or industrial undertaking is reconstituted or reorganised in any manner whatsoever or is amalgamated
with any other body corporate, co-operative society or undertaking, or is dissolved, and in consequence of
such reconstitution, reorganisation, amalgamation or dissolution, any workman employed by such
body corporate or any such co-operative society or undertaking, is transferred to, or re-employed by any
other body corporate, or in any other co-operative society or undertaking, then, notwithstanding anything
contained in section 25F, section 25FF or section 25FFF, of the Industrial Disputes Act, 1947
(14 of 1947), such transfer or re-employment shall not entitle him to any compensation under that section:
Provided that—
(a) the terms and conditions of service applicable to the workman after such transfer or
re-employment are not less favourable to the workman than those applicable to him immediately
before the transfer or re-employment; and
(b) the employer in relation to the body corporate, the co-operative society or the undertaking
where the workman transferred or re-employed, is by agreement or otherwise, legally liable to pay to
the workman, in the event of his retrenchment, compensation under section 25F, section 25FF or
section 25FFF of the Industrial Disputes Act, 1947 (14 of 1947), on the basis that his service has been
continuous and has not been interrupted by the transfer or re-employment.
57. Special provision as to income-tax.—Where the assets, rights and liabilities of
any body corporate carrying on business are, under the provisions of this Part, transferred to
any other bodies corporate which after the transfer carry on the same business, the losses of profits or
gains sustained by the body corporate first mentioned which, but for such transfer, would have been
allowed to be carried forward and set off in accordance with the provisions of Chapter VI of the
Income-tax Act, 1961 (43 of 1961) shall be apportioned amongst the transferee bodies corporate in
accordance with the rules to be made by the Central Government in this behalf and, upon such
apportionment, the share of loss allotted to each transferee body corporate shall be dealt with in
accordance with the provisions of Chapter VI of the said Act as if the transferee body corporate had itself
sustained such loss in a business carried on by it in the years in which these losses were sustained.
15
58. Continuance of existing facilities in certain institutions.—On and from the appointed day, the
Government of Goa shall, in respect of the technical institutions located in the State of Goa continue to
provide facilities to the persons resident in the territories comprising the Union territory of Daman and
Diu which shall not in any respect be less favourable than those which were being provided to them
immediately before that day upon such terms and conditions (including those relating to any contribution
or payment to be made for the provisions of such facilities) as may be agreed upon between the State of
Goa and the Union before the 1st day of April, 1988, or if no such agreement is reached by the said date,
as may be fixed by the order of the Central Government.