Vesting of properties etc.
Notwithstanding anything contained in the 1Andhra
Pradesh (Telangana Area) Public Societies Registration Act, 1350 F. on and from the date of commencement, of this Act,
the Society known as "The Nizam’s Institute of Medical
Sciences, Hyderabad" registered with Certificate of
Registration (No. 238 of 1980) issued by the Registrar of
Societies, Andhra Pradesh, Hyderabad shall stand dissolved
and the said Certificate of Registration shall stand cancelled
and thereupon,-
(1) the Nizam’s Institute of Medical Sciences together
with,-
(a) all lands on which the Nizam’s Institute of Medical
Sciences Stands, and all other lands appurtenant thereto
and all buildings, erections and fixtures on such lands;
(b) all furniture, equipments, stores, apparatus and
appliances, drugs, moneys and other assets of the Nizam’s
Institute of Medical Sciences;
(c) all other properties and assets, movable and
immovable including leases pertaining to the Nizam’s
Institute of Medical Sciences, cash balances, reserve funds,
investments and all other rights and interests in, or in
relation to, or arising out of, such property as were,
immediately before the said commencement in the
ownership, possession, power or control of any person in
charge of the management of the affairs of the Nizam’s
Institute of Medical Sciences; and
(d) all borrowings made or contracts entered into by
or on behalf of and all other liabilities and obligations of
whatever kind, incurred in relation to the Nizam’s Institute of
Medical Sciences and subsisting on the appointed day,
shall stand transferred to and shall vest absolutely in the
Nizam’s Institute of Medical Sciences established under
section 3 of this Act (herein-after in this section called the
Institute).
(2) Every deed of gift, endowment, bequest or trust or
other document in relation to all or any of the properties,
and assets, referred to in clause (1), shall as from the
appointed day be construed as if it were made or executed
in favour of the Institute.
(3) Every officer or other employee, who immediately
before the said commencement, is employed in, or in
connection with the affairs of the Nizam’s Institute of Medical
Sciences, shall become, as from the appointed day, an
officer or other employee, as the case may be, of the
Institute and shall hold his office by the same tenure, at the
same remuneration and upon the same rights and privileges
as to pension, gratuity and other matters as he would have
held, if this Act, had not been enacted and shall continue to
do so unless and until his employment under the Institute is
duly terminated or until his remuneration, terms and
conditions duly altered by the Institute:
Provided that, if the alteration so made is not
acceptable to any such officer or other employee, his
employment may be terminated by the Institute on payment
to him of an amount equivalent to three month’s
remuneration in the case of permanent employees and one
month’s remuneration in the case of other employees.
1. Repealed by Act No.35 of 2001.