Section 6: Continuance in service of employees, etc

6. Continuance in service of employees, etc.__(1) All officers, advisers, workmen and other employees of the Corporation shall stand transferred to the Company or, as the case may be, subsidiary as from the date of vesting of the projects and properties in the Company or the subsidiary. (2) Every officer, adviser, workman and other employee employed in a business or project or in connection with the properties vested in the Company or a subsidiary, by whomsoever appointed, shall, on the day of the vesting of the business, properties or project in the Company or the subsidiary, become an officer, adviser, workman or other employee as the case may be, of the Company or the subsidiary. (3) An officer, adviser, workman or other employee who becomes an officer, adviser, workman or other employee of the Company or a subsidiary shall in the Company or the subsidiary be entitled to such terms and conditions as are not less favourable than those to which he was or may be entitled immediately before the day on which he becomes an officer, adviser, workman or other employee of the Company or the subsidiary and his transfer to the company or the subsidiary shall not entitle any such officer, adviser, workman or other employee to any compensation or to the designation he was holding at the time of such transfer and no claim for such compensation or designation shall be entertained by any court tribunal or other authority.

Effective date: 1984-01-01

Related sections