(1)[The sums at the credit of the Provident Fund Accounts of the persons referred to in sub-section (2) of section 52-C] [Substituted by Tamil Nadu Act 45 of 2002.] as on the date specified in the order under clause (a) of the said sub-section (2) shall be transferred to the Alagappa University and the liability' in respect of the said Provident Fund Accounts shall be the liability of the Alagappa University.