2.
| (a) All officers and other employees in the employment of the Mahaweli Development Board (hereinafter referred to as the " Board ") on the day immediately preceding the appointed date shall, with effect from the appointed date be deemed to be employees in the service of the Mahaweli Authority of Sri Lanka (hereinafter referred to as the "Authority ") subject to terms and conditions not less favourable than the terms and conditions attaching to their employment under the Board. |
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| (b) All contracts and agreements entered into by, with or for the Board shall be deemed to be contracts and agreements of the Authority, and all rights, privileges, obligations debts and liabilities of the Board subsisting on the day immediately preceding the appointed date shall be deemed to be the rights, privileges, obligations, debts and liabilities of the Authority, |
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| (c) All movable property (including moneys in the Fund of the Board and moneys lying to the credit of the Board in any Bank or other institution) and immovable property which has been vested in or purchased or acquired by or leased to or placed at the disposal of the Board or in any manner transferred to the Board or in the possession or control of the Board shall, subject to any terms and conditions attaching to such property and subsisting on the day immediately preceding the appointed date be deemed to be the property of the Authority. |
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| (d) Any action, matter, proceeding or thing instituted by or against the Board or to which the Board is a party and pending on the day immediately preceding the appointed date shall, with effect from the appointed date, be deemed to be an action, matter, proceeding or thing instituted by or against the Authority or to which the Authority is a party. |
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| (e) Any decree, order or award entered or made in favour of or against the Board by any court or tribunal or other body in any action, matter, proceeding or thing shall, with effect from the appointed date, be deemed to be a decree, order or award entered or made in favour of or against the Authority. |
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Sri Lanka Consolidated Acts