Section 4: Transfer of employees from the Corporation to the Company

4. Transfer of employees from the Corporation to the Company.___ (1) All whole time employees of the Corporation who had continuously served for a period of not less than six months before the effective date shall be transferred to, and become the employees of the Company, hereinafter referred to as the “Transferred Employees”, on the same terms and conditions, including remuneration, tenure of office, rights, perquisites, privileges, pension benefits, gratuity, provident fund, group insurance and other matters, as were applicable to them immediately before the effective date. (2) No person transferred to the Company pursuance to sub-section (1) shall be entitled to any compensation as a consequence of transfer to the Company. (3) The terms and conditions of service of any Transferred Employee shall not be altered adversely by the Company except in accordance with the laws of Pakistan or with the consent of the Transferred Employees and the award of appropriate compensation.

Effective date: 2000-01-01

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