Section 7(1) in The Academy Of Scientific And Innovative Research Act, 2011
(1)On and from the date of establishment of the Academy,-(a)any reference to the existing Academy in any law other than this Act or in any contract or other instrument shall be deemed as a reference to the Academy;(b)all properties and assets, movable and immovable, of, or belonging to, the existing Academy, shall vest in the Academy;(c)all rights and liabilities of the existing Academy shall be transferred to, and be the rights and liabilities of, the Academy;(d)without prejudice to the provisions of clause (c), all debts, obligations and liabilities incurred, all contracts entered into and all matters and things engaged to be done by, with or for the existing Academy immediately before that date, for or in connection with the purpose of the said existing Academy shall be deemed to have been incurred, entered into or engaged to be done by, with or for, the Academy;(e)all sums of money due to the existing Academy immediately before that date shall be deemed to be due to the Academy;(f)all suits and other legal proceedings instituted or which could have been instituted by or against the existing Academy immediately before that date may be continued or may be instituted by or against the Academy;(g)every employee (including those appointed for imparting instruction or conducting research in the existing Academy) holding any office under the existing Academy or teaching therein immediately before that date shall hold his office in the Academy or continue teaching therein by the same tenure and upon the same terms and conditions of service as respects remuneration, leave, provident fund, retirement and other terminal benefits as he would have held such office if the Academy had not been established and shall continue to do so as an employee of the Academy or until the expiry of the period of six months from that date if such employee opts not to be the employee of the Academy within such period.
