Coal Mines (Nationalisation) Act : Provident and other funds. Indian Bare Acts :

Coal Mines (Nationalisation) Act,1973

Act No : 26

Section : Provident and other funds.

15. Provident and other funds. (1) Where a coal mine has established a provident fund, superannuation, welfare or other fund for the benefit of its employees, the monies relatable to the employees, whose services have become transferred by or under this Act to the Central Government or a Government company shall, out of the monies standing, on the appointed day, to the credit of such provident fund, superannuation, welfare or other fund, stand transferred to, and vest in, the Central Government or the Government company, as the case may be. (2) The monies which stand transferred, under sub-section (1), to the Central Government or a Government company shall be dealt 343 with by that Government or company, as the case may be, in such manner as may be prescribed.