33. On the appointed date -
| (1) all officers and other employees in the employment
of the Sri Lanka Central Transport Board, the
Northern Regional Transport Board, the Regional
Transport Boards, the Vavuniya Peoplised Passenger
Transport Services Ltd., the Amalgamated Peoplised
Bus Companies and the Northern Transport
Company Ltd. on the day immediately preceding
the appointed date shall be deemed to be employees
in the service of the Board subject to terms and
conditions not less favourable than the terms and
conditions attaching to their employment under
their respective institutions. The services of such
employees shall not be terminated otherwise than
in terms of their conditions of employment or
through a Voluntary Retirement Scheme or on a
disciplinary reason;
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| (2) all the movable and immovable property of the
Sri Lanka Central Transport Board, the Northern
Regional Transport Board, the Regional Transport
Boards, the Vavuniya Peoplised Passenger Transport
Services Ltd., the Amalgamated Peoplised Bus
Companies and the Northern Transport Company
Ltd. on the day immediately prior to the appointed
date (including money in the funds of the respective
institutions) shall vest in, and be the property of,
the Board ;
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| (3) all such shares issued by the Vavuniya Peoplised
Passenger Transport Services Ltd., the Amalgamated
Peoplised Bus Companies and the Northern Transport Company Ltd. in their respective institutions, for no consideration, to their employees or ex-employees and held by them on the day immediately prior to the appointed date shall vest in and be the property of Board established by section 2 of this Act, and such employees and ex-employees or any other person presently holding such shares, shall be compensated in respect of each such share at its par value, notwithstanding the fact that such share is presently below the par value;
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| (4) all the contracts and agreements of the Sri Lanka
Central Transport Board, Regional Transport Boards,
the Vavuniya Peoplised Passenger Transport Services
Ltd., the Amalgamated Peoplised Bus Companies and
the Northern Transport Company Ltd. on the day
immediately prior to the appointed date shall be
deemed to be the contracts and agreements of the
Board, and all subsisting rights, liabilities, including
all Employees Provident Fund, Employees Trust
Fund and gratuity liabilities, and obligations of the
above entities under such contracts and agreements
shall be deemed to be the rights, liabilities and
obligations of the Board;
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| (5) any action, application or appeal instituted or made
by or against the Sri Lanka Central Transport Board,
Regional Transport Boards, the Vavuniya Peoplised
Passenger Transport Services Ltd., the Amalgamated
Peoplised Bus Companies and the Northern
Transport Company Ltd. in any Court or tribunal
and pending on the day immediately prior to the
appointed date shall be deemed to be an action,
application or appeal instituted or made by or
against the Board;
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| (6) any decree or award entered or made by a Court or
tribunal in any action, application or appeal
instituted or made by or against the Sri Lanka Central
Transport Board, Regional Transport Boards, the
Vavuniya Peoplised Passenger Transport Services Ltd., the Amalgamated Peoplised Bus Companies and the Northern Transport Company Ltd. and remaining unsatisfied in whole or in part on the day immediately prior to the appointed date shall be deemed to be a decree or award in favour of or against the Board, as the case may be, and may, subject to the provisions of the Civil Procedure Code, or any other enactment, in relation to the execution of a decree or award, be enforced by or against the Board.
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Sri Lanka Consolidated Acts