3. Abolition of the Shipping Development Fund Committee and consequential amendments in the Act.
On and from the appointed day, the Shipping Development Fund Committee constituted under section 15 of the Act shall stand abolished, and accordingly the Act shall stand amended as follows:--
(a)
in the long title, the words "and a Shipping Development Fund" shall be omitted;
(b)
Part IV shall be omitted.
4. Consequential provisions.
On the abolition of the Committee,--
(a)
all the rights and privileges of the Committee shall become the rights and privileges of the Central Government;
(b)
all properties, movable and immovable, including cash balance, reserve funds, instruments and moneys lying to the credit of the Committee and all rights and interests in, or arising out of, such properties as were immediately before the appointed day, in the ownership, possession, power or control of the Committee, and all books of account, registers, records and all other documents of whatever nature relating thereto, shall vest in the Central Government;
(c)
all borrowings, liabilities and obligations of the Committee of whatever kind and subsisting immediately before the appointed day, shall be deemed, on and from such day, to be the borrowings, liabilities and obligations, as the case may be, of the Central Government; and
(d)
all contracts entered into, and all matters and things engaged to be done by, with or for, the Committee and subsisting immediately before the appointed day shall be deemed, on and from such day, to have been entered into, or engaged to be done by, with or for, the Central Government.
5. Continuation of suits, etc, against Central Government.
(1)
If, on the appointed day, any suit, appeal or other proceeding of whatever nature in relation to the Fund or the Committee is pending by or against such Committee, the same shall not abate, be discontinued, or be in any way prejudicially affected by reason of the abolition of the Committee; but such suit, appeal or other proceeding may be continued, prosecuted and enforced by or against the Central Government.
(2)
Where, before the appointed day, no cause of action for any suit or proceeding or any right to appeal arose in favour of, or against the Committee and the institution of any suit or proceeding on such cause of action or the filing of such appeal was not barred before the appointed day, such suit or proceeding may be instituted or appeal may be filed by or against the Central Government. 1317
6. Moneys, etc, of the Committee to be credited to the Consolidated Fund of India.
On the appointed day, all moneys and cash balances lying in the credit of the Committee shall become part of, and be credited to, the Consolidated Fund of India.
7. Transfer of services of existing employees of the Committee.
(1)
Every person, who has been, immediately before the appointed day, employed under the Committee, shall become, on and from the appointed day, an employee of the Central Government and shall hold office under the Central Government with the same rights and privileges as to pension, gratuity and other matters as would have been admissible to him if there had been no such vesting and shall continue to do so unless and until his employment under the Central Government is duly terminated or until his remuneration and other conditions of service are duly altered by the Central Government.
(2)
Notwithstanding anything contained in the Industrial Disputes Act, 1947 (14 of 1947), or in any other law for the time being in force, the transfer of the services of any officer or other person employed under the Committee shall not entitle such officer or other employee to any compensation under this Act or under any other law for the time being in force and no such claim shall be entertained by any court, tribunal or other authority.
(3)
Where, under the terms of any contract of service or otherwise, any person, whose services stand transferred to the Central Government by reason of the provisions of this Act, is entitled to any arrears of salary or wages or any payments for any leave not availed of, or to any other payment, not being payment by way of gratuity or pension, such person may enforce his claim against the Central Government.