21. The following provisions shall apply to and in relation to an employee of the Institute who became such an employee on the appointed date by virtue of the operation of the provisions of section 20 :-
| (a) Such employee shall be employed by the Institute on such terms and conditions as may be agreed upon by such employee and the Institute : provided, however, that such terms and conditions shall be not less favourable than the terms and conditions on which such employee was previously employed in the NIFT; |
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| (b) If on the day preceding the appointed date, such employee was a public officer of the NIFT holding a post declared to be pensionable and who had less than ten and not less than eight years' pensionable service, then-
| | (i) he shall be deemed, for the purposes only of the Minutes on Pensions, to be holding the post in the NIFT that he held on the day preceding appointed date until such period of time as, when added to his pensionable service under the Government, makes an aggregate often years' pensionable service (service under the Institute being counted as pensionable service under the Government for the computation of such aggregate); | | |
| | (ii) in respect or him the Institute shall pay out of the funds of the Institute to the Deputy Secretary to the Treasury to be credited to the Consolidated Fund for every complete month of the period of service during which he is deemed for the purposes of the Minutes on Pensions to be holding the post in the NIFT that he held on the day preceding appointed date, such sum as may be determined by the Minister in charge of the subject of Finance; and | | |
| | (iii) at the end of such period he shall be deemed to have retired from the public service and shall be eligible for such a pension under the Minutes on Pensions as would have been awarded to him, had he retired from the public service on the ground of abolition of office on the termination of such period. | | |
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Sri Lanka Consolidated Acts