15. Transfer of members of the public service to the Bank

Subject to the provisions of this Act, any person who immediately before the appointed date was a member of the public service and who in the opinion of the Minister is necessary to the proper operation of the Bank shall as from that date become an officer or employee of the Bank, on terms and conditions of service not less favourable than those which were attached to his service immediately before that date.

Any member of the public service who has by virtue of subsection (1)

Any member of the public service who reverts to the public service under subsection (2) may, by reason that no vacancy is immediately available for him in the public service, be required by the Government, and the Bank shall permit him, to continue to serve with the Bank for a period not exceeding five years.

In determining whether the terms and conditions of service are or are not less favourable, as aforesaid, regard shall be had to salary or wages, conditions relating to termination of service, retirement benefits, medical attention, quarters, allowances, leave and overseas passages (if any) for himself and his family and any other benefits whether provided for himself or his widow or dependants.

Any question arising as to whether any terms and conditions of service are less favourable than those attached to the service mentioned in subsection (1) or (2) shall be referred to the Minister whose decision thereon shall be final.