Section 5(5) in The Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997
(5)The trust of the provident fund or the gratuity fund of the Reconstruction Bank and any other bodies created for the welfare of officers or employees would continue to discharge their functions in the Company as was being hitherto in the Reconstruction Bank and tax exemption granted to the provident fund or the gratuity fund would continue to be applied to the Company.
